Fed Governor Lisa Cook: The Dual Mission in Rural America

Federal Reserve Governor Lisa Cook delivered remarks at the first nationwide Investing in Rural America conference hosted by the Federal Reserve Bank of Richmond. She noted that rural labor markets broadly track national trends, but with lower labor force participation and slower employment growth than urban areas in recent years. Rural inflation has largely aligned with national trends, though cost-of-living increases outpaced urban areas during the post-pandemic recovery, with energy and housing costs as the primary sources of divergence.