Speaking of the Economy
- Episodes
- 221
- Released
- weekly
- Latest episode
- Nov 10, 2026
About the podcast
Speaking of the Economy is the podcast of the Federal Reserve Bank of Richmond. In each episode, we'll hear from the Richmond Fed's economists and other experts at the Bank and in the communities we serve about the economic issues they are exploring.
Episodes 221
The People: How Rural Communities Develop Their Human Capital
The importance of human capital development in rural communities was one of the topics discussed during the 2026 Investing in Rural America Conference, hosted by the Federal Reserve Bank of Richmond in …
Show notes
The importance of human capital development in rural communities was one of the topics discussed during the 2026 Investing in Rural America Conference, hosted by the Federal Reserve Bank of Richmond in partnership with the Federal Reserve System and Rural LISC. In this episode, Sarah Gunn, the Richmond Fed's district outreach manager for workforce pathways, provides an overview of the topic. We also hear from three conference speakers: Alexander Ruder, assistant vice president on the Atlanta Fed's Community and Economic Development team; Julianne Dunn, director of workforce and financial prosperity at Rural LISC; and Melana Howe, corporate liaison and apprenticeship coordinator for Lake Region State College.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_11_10_IRA_human_capital
The Money: How Rural Communities Get Capital Investment
The ways that rural communities improve the flow of capital was one of the topics covered at the 2026 Investing in Rural America Conference, hosted by the Federal Reserve Bank of Richmond in partnership with …
Show notes
The ways that rural communities improve the flow of capital was one of the topics covered at the 2026 Investing in Rural America Conference, hosted by the Federal Reserve Bank of Richmond in partnership with the Federal Reserve System and Rural LISC. In this episode, Jason Smith, the Richmond Fed's senior community development advisor, discusses what the Bank has done to improve capital investment in rural areas. We also hear from three conference speakers: Robin Hacke, co-founder and senior fellow at the Center for Community Investment; Alex Flachsbart, founder and CEO of OPAL Community Capital; and Diane Standaert, senior vice president of policy and advocacy at HOPE Credit Union.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_11_04_IRA_credit_formation
Economic Mobility Across Rural America
Raj Chetty discusses his research on economic mobility and variations in how readily people can climb the income ladder, especially in rural communities. Chetty, an economics professor at Harvard University and …
Show notes
Raj Chetty discusses his research on economic mobility and variations in how readily people can climb the income ladder, especially in rural communities. Chetty, an economics professor at Harvard University and director of Opportunity Insights, gave the keynote address at the Investing in Rural America Conference in September 2026.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_10_21_IRA_chetty
Post-Pandemic Job Juggling
Kyle DeMaria and Urvi Neelakantan talk about their recent research on people who work multiple jobs and what this segment of the labor market says about the overall economy. DeMaria is a regional economist and …
Show notes
Kyle DeMaria and Urvi Neelakantan talk about their recent research on people who work multiple jobs and what this segment of the labor market says about the overall economy. DeMaria is a regional economist and advisor for workforce pathways and Neelakantan is a senior policy economist, both at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_10_14_job_juggling
Invest in What's Next
Sarah Gunn describes an online tool developed by the Federal Reserve to help students explore their post-high school career and education options and choose the path that is best for them. Gunn is district …
Show notes
Sarah Gunn describes an online tool developed by the Federal Reserve to help students explore their post-high school career and education options and choose the path that is best for them. Gunn is district outreach manager for community development at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_10_07_invest_in_whats_next
The Creative Consumer
Andy Bauer and Renee Haltom share what they have learned through conversations with Fifth District businesses about consumer spending and how it has responded to cost increases and other economic headwinds …
Show notes
Andy Bauer and Renee Haltom share what they have learned through conversations with Fifth District businesses about consumer spending and how it has responded to cost increases and other economic headwinds. Bauer and Haltom are regional executives at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_09_23_the_creative_consumer
Measuring AI Adoption
John Haltiwanger talks about his work with the U.S. Census Bureau to improve the tracking of AI usage by workers and their employers. Haltiwanger, a professor of economics at the University of Maryland, shared …
Show notes
John Haltiwanger talks about his work with the U.S. Census Bureau to improve the tracking of AI usage by workers and their employers. Haltiwanger, a professor of economics at the University of Maryland, shared this research during the August 2026 CORE Week held at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_09_09_measuring_ai_adoption
The Rise in Long-Term Unemployment
Katarína Borovičková and Claudia Macaluso discuss their research on the long-term unemployed, including the factors like AI adoption that could be affecting the movement of people into and out of this …
Show notes
Katarína Borovičková and Claudia Macaluso discuss their research on the long-term unemployed, including the factors like AI adoption that could be affecting the movement of people into and out of this employment status and the broader economic implications of these labor market flows. Macaluso and Borovičková are senior economists at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_09_02_long-term_unemployment
How Apprenticeships Feed the Workforce Pipeline
Michael Newsome talks about what he has learned about apprenticeships from discussions with business and education leaders. As an illustration, Melissa Stowasser shares how Trident Technical College partnered …
Show notes
Michael Newsome talks about what he has learned about apprenticeships from discussions with business and education leaders. As an illustration, Melissa Stowasser shares how Trident Technical College partnered with smaller employers to develop an apprenticeship program for the Charleston, S.C., region. Newsome is community development regional manager for workforce pathways in North Carolina and South Carolina at the Richmond Fed, while Stowasser is vice president for community and continuing education at Trident.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_08_19_apprenticeships
Artificial Intelligence and the Entry-Level Worker
Erik Hurst discusses his research on the potential impacts of AI adoption on the labor market, in particular entry-level workers and their human capital development over time through the acquisition of new …
Show notes
Erik Hurst discusses his research on the potential impacts of AI adoption on the labor market, in particular entry-level workers and their human capital development over time through the acquisition of new skills and knowledge. Hurst is the Roman Family Distinguished Service Professor of Economics and John E. Jeuck Faculty Fellow at the University of Chicago's Booth School of Business.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_08_12_AI_human_capital
Economic Progress in Virginia's Shenandoah Valley
Jay Langston discusses how rural communities in western Virginia have diversified the region from agriculture into pharmaceutical and other forms of manufacturing. Key ingredients of this economic progress …
Show notes
Jay Langston discusses how rural communities in western Virginia have diversified the region from agriculture into pharmaceutical and other forms of manufacturing. Key ingredients of this economic progress include developing the local workforce, building relationships between local and state economic development organizations, and addressing quality-of-life issues. Langston is executive director of the Shenandoah Valley Partnership.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_08_05_shenandoah_valley
The Challenges and Opportunities of Rural Economic Development
Daniel Davis talks about the barriers that rural communities face in fully realizing their economic potential and how economic development professionals have addressed those barriers. He also shares insights on …
Show notes
Daniel Davis talks about the barriers that rural communities face in fully realizing their economic potential and how economic development professionals have addressed those barriers. He also shares insights on this topic from the speakers at an Investing in Rural America webinar in June 2026. Davis is group vice president for regional economics at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_07_15_rural_econ_dev
Helping Hands
John Bailey Jones and Jason Kosakow discuss their research on how family members and friends give their time and money to help each other and how these transfers benefit households. Jones is vice president of …
Show notes
John Bailey Jones and Jason Kosakow discuss their research on how family members and friends give their time and money to help each other and how these transfers benefit households. Jones is vice president of microeconomic analysis and Kosakow is survey director, both at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_07_08_helping_hands
Navigating Today's Supply Shocks
John O'Trakoun discusses the supply shocks resulting from the recent conflicts in the Middle East and how businesses and consumers have responded to these shocks. O'Trakoun is a senior policy economist at the …
Show notes
John O'Trakoun discusses the supply shocks resulting from the recent conflicts in the Middle East and how businesses and consumers have responded to these shocks. O'Trakoun is a senior policy economist at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_07_01_supply_shocks
Explaining the K-Shaped Economy
Urvi Neelakantan describes how employment, income growth and consumption can differ between groups of households and reviews recent trends in this divergence of economic outcomes. Neelakantan is a senior policy …
Show notes
Urvi Neelakantan describes how employment, income growth and consumption can differ between groups of households and reviews recent trends in this divergence of economic outcomes. Neelakantan is a senior policy advisor at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_06_17_k-shaped_economy
Do CDFIs Overcome Market Failures?
Surekha Carpenter and Borys Grochulski discuss how community development financial institutions work to help underserved communities that lack adequate access to credit and what factors determine their success …
Show notes
Surekha Carpenter and Borys Grochulski discuss how community development financial institutions work to help underserved communities that lack adequate access to credit and what factors determine their success in filling market gaps. Carpenter is a senior research analyst and Grochulski is a senior economist, both at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_06_10_cdfi_market_failures
The Rise of Stablecoin and the Demand for Dollars
Marina Azzimonti discusses how digital currency like stablecoin and physical currency like the U.S. dollar are tied together, how the demand for one affects the other, and how this relationship plays out in …
Show notes
Marina Azzimonti discusses how digital currency like stablecoin and physical currency like the U.S. dollar are tied together, how the demand for one affects the other, and how this relationship plays out in global financial markets. Azzimonti is a senior economist and research advisor at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_06_03_stablecoin_dollars
What CFOs Say About AI Adoption
Sonya Waddell and John Graham share their research on the adoption of artificial intelligence in the workplace, based on the expected and realized effects reported by the financial executives who participate in …
Show notes
Sonya Waddell and John Graham share their research on the adoption of artificial intelligence in the workplace, based on the expected and realized effects reported by the financial executives who participate in the CFO Survey. Waddell is a vice president and economist at the Federal Reserve Bank of Richmond and Graham is a finance professor at the Fuqua School of Business at Duke University and director of the CFO Survey.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_05_20_CFO_AI
Redevelopment in Western North Carolina
Matt Martin and Erika Bell recall their visit to western North Carolina to learn more about revitalization efforts in response to long-term changes in the regional economy as well as the aftermath of Hurricane …
Show notes
Matt Martin and Erika Bell recall their visit to western North Carolina to learn more about revitalization efforts in response to long-term changes in the regional economy as well as the aftermath of Hurricane Helene. Martin is a regional executive at the Charlotte office of the Federal Reserve Bank of Richmond and Bell is the community development regional manager for North Carolina and South Carolina at the Richmond Fed. Also in this episode, Scott Webber, town manager of Spindale, N.C., shares how he has worked with community partners to support redevelopment in the region.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_05_13_redevelopment_western_nc
Anatomy of a Business Cycle
Claudia Macaluso explains how economists identify the points of expansion and contraction in the national economy and how the current business cycle differs from past cycles. Macaluso is a senior research …
Show notes
Claudia Macaluso explains how economists identify the points of expansion and contraction in the national economy and how the current business cycle differs from past cycles. Macaluso is a senior research economist at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_05_06_business_cycles
The Connection Between Health and Employment in Rural Communities
Surekha Carpenter and Bethany Greene discuss the connections between the health of workers and the health of labor markets in rural communities. Carpenter is a senior research analyst and Greene is a regional …
Show notes
Surekha Carpenter and Bethany Greene discuss the connections between the health of workers and the health of labor markets in rural communities. Carpenter is a senior research analyst and Greene is a regional economist, both at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_04_15_rural_health_employment
What Are You Working On?
For the 200th episode of Speaking of the Economy, four economists at the Federal Reserve Bank of Richmond share their current research and how that work connects with the Fed's mission: Nicholas Trachter on the …
Show notes
For the 200th episode of Speaking of the Economy, four economists at the Federal Reserve Bank of Richmond share their current research and how that work connects with the Fed's mission: Nicholas Trachter on the growth in firm size, Urvi Neelakantan on the relationship between going to college and investing in the stock market, Russell Wong on the impact of AI on employment, and Horacio Sapriza on the ability of central bank communications to stabilize financial markets.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_04_08_what_are_you_working_on
Tariffs: What We Have Learned One Year Later
Renee Haltom shares what the Federal Reserve Bank of Richmond has learned from its business contacts and regional surveys about the impact of trade policy changes since last April. Haltom is a regional …
Show notes
Renee Haltom shares what the Federal Reserve Bank of Richmond has learned from its business contacts and regional surveys about the impact of trade policy changes since last April. Haltom is a regional executive and vice president of sensing, engagement and publications at the Richmond Fed.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_04_01_tariffs
Tracking Pathways to Success at Community Colleges
Stephanie Norris and Davy Sell review the latest results of the Federal Reserve Bank of Richmond's Survey of Community College Outcomes, which examined the variety of ways that these colleges served different …
Show notes
Stephanie Norris and Davy Sell review the latest results of the Federal Reserve Bank of Richmond's Survey of Community College Outcomes, which examined the variety of ways that these colleges served different types of students and communities in the Fifth District as well as in five states outside of this region. Norris is a regional economist and Sell is a regional analyst, both at the Richmond Fed.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_03_18_community_college_survey
Affordable Housing Development in Rural Virginia
Suzanne Holland talks about the Federal Reserve Bank of Richmond's recent visit to Martinsville to learn about the economic challenges and opportunities in the city and surrounding communities in southern …
Show notes
Suzanne Holland talks about the Federal Reserve Bank of Richmond's recent visit to Martinsville to learn about the economic challenges and opportunities in the city and surrounding communities in southern Virginia. Kate Keller describes one issue in the region — the shortage of affordable housing — and the unique approach to the problem taken by her organization, the Harvest Foundation. Holland is a senior outreach specialist at the Richmond Fed and Keller is president of the Harvest Foundation.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_03_11_affordable_housing_rural_virginia
What Happens When Consumers Buy Now and Pay Later?
Zhu Wang discusses the emergence of "buy now, pay later" installment loans and shares his research on the potential impacts of this payment option on the credit risks of individuals and the stability of …
Show notes
Zhu Wang discusses the emergence of "buy now, pay later" installment loans and shares his research on the potential impacts of this payment option on the credit risks of individuals and the stability of financial markets. Wang is vice president for research in financial and payment systems at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_03_04_buy_now_pay_later
Understanding the Economy as Data Revisions Happen
Thomas Lubik reviews how widely used macroeconomic data like GDP is compiled and updated, and how the revision process strikes a balance between decisionmakers' needs for timeliness and accuracy. Lubik is a …
Show notes
Thomas Lubik reviews how widely used macroeconomic data like GDP is compiled and updated, and how the revision process strikes a balance between decisionmakers' needs for timeliness and accuracy. Lubik is a senior advisor in the Research department of the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_02_18_data_revisions
Predicting PCE Using the Richmond Fed's Regional Surveys
Pierre-Daniel Sarte and Sonya Waddell discuss the pricing data that the Federal Reserve Bank of Richmond gathers from its monthly surveys of regional business activity and how that data can be used to inform …
Show notes
Pierre-Daniel Sarte and Sonya Waddell discuss the pricing data that the Federal Reserve Bank of Richmond gathers from its monthly surveys of regional business activity and how that data can be used to inform inflation forecasts. Sarte is a senior advisor and Waddell is a vice president and economist, both at the Richmond Fed.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_02_11_predicting_inflation
Regional Impacts of a Shrinking Federal Government
Andy Bauer and Amy Liu discuss the direct and spillover economic effects of the recent reductions in federal employment and spending on the District of Columbia, Maryland, and Virginia. Bauer is a regional …
Show notes
Andy Bauer and Amy Liu discuss the direct and spillover economic effects of the recent reductions in federal employment and spending on the District of Columbia, Maryland, and Virginia. Bauer is a regional executive at the Federal Reserve Bank of Richmond and Liu is a non-resident senior fellow at the Brookings Institution and co-author of the DMV Monitor.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_02_04_federal_govt_cuts
The Demise of the Penny
Zhu Wang and Russell Wong discuss the shutdown in the production of pennies in the U.S. and their research on how the penny's demise is expected to impose costs on consumers. Wang is vice president for research …
Show notes
Zhu Wang and Russell Wong discuss the shutdown in the production of pennies in the U.S. and their research on how the penny's demise is expected to impose costs on consumers. Wang is vice president for research in financial and payments systems and Wong is a senior economist, both at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2026/speaking_2026_01_21_penny
These are the latest 40 of 221 episodes. You’ll find older episodes in the podcast’s feed.
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