Business · Economy · 5 hrs ago
Factory visits give Richmond Fed chief a ground-level view of economy
Richmond Fed President Tom Barkin visited manufacturers in Union, South Carolina, to hear how businesses are doing.
At auto-parts maker Gestamp, demand remains solid and investment continues.
Manufacturers are also dealing with rising costs, changing technology and uncertain policy.
Barkin made the visit to hear directly from businesses, rather than rely only on economic data.
Their experiences offer a ground-level view of forces shaping the economy.
No policy decision or next step was announced.
Richmond Fed President Tom Barkin visited manufacturers in Union, South Carolina, to hear about conditions on the ground.
At auto-parts maker Gestamp, demand remains solid and investment continues.
Businesses are navigating rising costs, changing technology and an uncertain policy environment.
The visit gave Barkin a ground-level view of forces shaping the economy.
- Who
- Richmond Fed President Tom Barkin and manufacturers, including auto-parts maker Gestamp.
- What
- Barkin traveled to hear directly from manufacturers about economic conditions.
- When
- Not stated.
- Where
- Union, South Carolina.
- Why
- To hear what is happening beneath the economic data and gain a ground-level view of the economy.
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- Fed official
- Tom Barkin, Richmond Fed president
- Location
- Union, South Carolina
- Company visited
- Gestamp, an auto-parts maker
- Demand
- Solid
- Business conditions
- Rising costs, changing technology and an uncertain policy environment