MARQUETTE, Mich. (WZMQ) – The Federal Reserve President of the 9th district, Neel Kashkari, participated in a fireside chat moderated by Invest U.P. CEO Marty Fittante during the Invest U.P. CEO Summit on Thursday.
Kashkari took questions from the audience and from online participants on topics ranging from housing and interest rates to commercial development in the UP
“The U.P. is part of the district that the Minneapolis Fed is responsible for, and we want to know what’s happening here in our local economy. So when I go back to Washington, DC, and we set interest rates for the nation, we can make sure that what’s happening in the U.P. is part of that deliberative process,” said Kashkari.
Earlier today, Mr. Kashkari met privately with business leaders from a wide range of sectors to gain insight into business concerns in the region.
“Overall, I heard cautiousness that there’s a lot of uncertainty in the economy, from tariffs, from the war in Iran, businesses are nervous, and they’re not exactly sure which way to go until they get more clarity,” said Kashkari.
Kashkari routinely tours the Ninth District to make sure Federal Reserve policy includes the interests of the people of his district.
“We can’t pick a different interest rate for Michigan and for California and New York, but we want to make sure that this part of America is part of the discussion. When we set interest rates for the nation,” said Kashkari.
Business leaders realize the connection the Fed has to their bottom line. “If the big money doesn’t make sense. It’s really going to hurt our communities, and the communities feel it long before the big places do,” said CEO of L’anse Manufacturing Mark Massicotte.
In its fifth year, the Invest U.P. CEO conference brought together over 150 business leaders from across the U.P.,
“I’m so excited. You had 150 business leaders and community leaders from all across the Upper Peninsula with some really good content that I think motivated all of us in the room to say, ” Hey, we can tackle the challenges that are in front of us and really drive prosperity,” said Invest U.P CEO Marty Fittante.
President Kashkari’s Ninth District includes Montana, North and South Dakota, Minnesota, parts of Wisconsin, and the entire Upper Peninsula.
