DISCRIMINATION AND HARASSMENT SERIOUSLY. THE CHAIR OF THE FEDERAL RESERVE, JEROME POWELL, VISITED YORK TODAY TO TALK WITH MEMBERS OF THE BUSINESS COMMUNITY ABOUT THE ECONOMIC CHALLENGES THAT THEY’RE FACING. NEWS EIGHT’S BARBARA BARR REPORTS ON HIS VISIT. LOOKING FOR A BRICK AND MORTAR. FEDERAL RESERVE CHAIR JEROME POWELL AND PATRICK HARKER, PRESIDENT OF THE FEDERAL RESERVE BANK OF PHILADELPHIA, VISITED DOWNTOWN BUSINESSES IN YORK.
It's a rare out-of-town tour. Powell toured a closed Central Market but spoke with vendors about how they survived and recovered from the pandemic. He talked to them about challenges they are facing in the economy, from supply chain issues to higher prices and workforce shortages.Powell also hosted a roundtable discussion with Patrick Harker, the president and CEO of the Federal Reserve Bank of Philadelphia, at the Yorktowne Hotel.
Powell says,"We're coming out of the other side of the pandemic." He added,"price stability is critical." Business leaders told him about the challenges of accessing capital with higher interest rates aimed at curbing inflation, which is still above the desired goal. The executive director of York's Economic Alliance, Kevin Schreiber, called the visit"historic, and an incredible opportunity." He believes York was chosen due to its strong relationship with the Federal Reserve in Philadelphia and its successful community partnerships, which helped it navigate the pandemic.Outdoor Voices September Sale: Save Up To 50% Off Sitewide