Apr 3, 2013 at 12:15 pm
Despite an improving regional economy the head of the Federal Reserve Bank of Minneapolis says the court of public opinion has not always kept pace. During a stop in Grand Forks Narayana Kocherlakota says with the exception of western North Dakota you don’t always get a sense of the kind of upbeat optimism one might expect.
Kocherlakota says unlike the of the early 1980’s the current economic recovery has been taking its time and that has lowered expectations.
The 2013 economic outlook for the Ninth Federal Reserve District suggests continued economic growth in 2013. Kocherlakota says the district’s unemployment rate is under five-and-a-half percent and the rate should continue to decline during the course of 2013. The Ninth Federal Reservce District includes Minnesota…Montana…North and South Dakota…and parts of Wisconsin and the upper peninsula of Michigan.