Regional President Speech

Silas Keehn: Introductory Remarks August 1988 Iowa Economic Forums 8/3/88 -- Des Moines, IA (breakfast) I. Welcome/Introductions A. Welcome - Very pleased to have here 1. Particularly appreciate assistance from bankers - associates and friends 2. Delighted to have such good turnout 3. One of series of meetings to talk about economy and monetary policy B. Introduce associates Karl Scheid - Nancy Goodman Ed Kethchmark , A V P Des Moines Office Dick Jung, Customer Service IOWA Also from Office - JOANNE STERNQUIST, Office Manager, LINDA GATH and SUSAN ANDERSON, Operations Managers, and PAUL ACKERMAN, summer intern II. Federal Reserve System - Pamphlets, books, info A. Geographically - 12 Districts 1. Separate Bank - Government Corporation 2. Stock owned by member banks Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des Moines Introduction - Page 2 B. Separate Boards of Directors 1. FRB Chicago, 9 Directors a. 6 elected b. 3 appointed by Board of Governors c. Happy to have director MAX NAYLOR, of Jefferson IA, and former director MARY GARST (1979-85) 2. Detroit Branch, 7 Directors a. 4 - Chicago Board b. 3 - Board of Governors C. Advisory Councils 1. Agriculture 2. Small Business - CYRIL MANDEtBAUM here, also former member CONNIE WIMER both from Des Moines D. Given geographical structure/Board of Directors/ Advisory Councils 1. Truly representational 2. Geographic areas 3. Social and economic interest groups Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Introduction - Page 3 Ill. FRB of Chicago A. 5 States (Illinois, Indiana, Iowa, Michigan, Wisconsin) B. Detroit Branch C. 3 RCPCs (Milwaukee, Indianapolis, Des Moines) D. Interesting diversity - slice across economic America 1. Manufacturing - heavy industry, light industry 2. Agriculture 3. Commerce / financial E. Activities 1. Operations - processing of transactions - check / electronic - almost 170 million checks per month 2. Supervision/regulation a. Regulatory - development of rules, govern operations of banks b. Supervision - monitoring adherence - examine action Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Introduction - Page 4 3. Economic research activities a. National / regional b. Monetary policy 4. This latter activity - why we are here today a. One of series of meetings in District b. To provide you some background on 1. The economic outlook as we see it 2. The issues and challenges we face in monetary policy decisionmaking process c. And, to gain some further information from you that will be helpful in making those decisions 5. We'll begin with Karl a. Current status and outlook for the economy b. Then I 'II review some of the major issues that 1. Impact on that outlook 2. Impact on our decisions c. Questions afterwards TURN TO KARL Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

Silas Keehn (1988, August 2). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19880803_silas_keehn

@misc{wtfs_regional_speeche_19880803_silas_keehn,
  author = {Silas Keehn},
  title = {Regional President Speech},
  year = {1988},
  month = {Aug},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19880803_silas_keehn},
  note = {Retrieved via When the Fed Speaks corpus}
}