Fed Governor Cook Addresses Dual Mandate in Rural America
Federal Reserve Governor Lisa Cook spoke on how the Fed's dual mandate applies to rural communities at a Richmond Fed conference in Asheville, N.C.
Federal Reserve Governor Lisa Cook delivered remarks focused on the central bank's dual mandate — maximum employment and price stability — through the lens of rural American communities, speaking at the 2026 Investing in Rural America Conference hosted by the Federal Reserve Bank of Richmond in Asheville, North Carolina.
The event brought together policymakers and stakeholders to examine economic conditions facing rural regions, which often experience distinct labor market dynamics and inflationary pressures compared to urban centers. Cook's address underscored that the Fed's core policy objectives are not limited in scope to metropolitan economies but carry direct implications for smaller, less densely populated communities across the country.
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Rural America has historically lagged urban counterparts on several economic indicators, including workforce participation, access to capital, and income growth — factors that complicate how federal monetary policy transmits through local economies. Conferences of this nature are intended to help regional Federal Reserve banks gather on-the-ground intelligence that informs the broader policymaking process.
The Richmond Fed, one of twelve regional reserve banks in the Federal Reserve System, serves a district that includes a significant share of rural territory spanning the mid-Atlantic and parts of the Southeast. Hosting the conference in Asheville reflects ongoing institutional interest in understanding how monetary and community development policy intersects with the needs of non-urban populations.
Continue reading at FRB: Speeches.
