Presented by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the National Association of Industrial and Office Properties/ Boston Business Journal 2008 Business Conference

A recap of the June 15, 1998 conference sponsored by the Federal Reserve Bank of Boston, Rural LISC, and others, to better understand the economic development challenges facing rural New England.

Keynote remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Collaboration and Leadership in Smaller Industrial Cities forum, Clark University, Worcester, Massachusetts, July 13, 2011

Following the economic boom of the late 1990s, the current recessionary period has caused revenues to decline and demand for government services to rise. Now, government executives and lawmakers, faced with persistent budget deficits, are struggling with difficult decisions: "What cuts should we...

Our Yankee ancestors were known for their hard work, individualism, and aversion to excessive displays of wealth. Although much has changed since then, New England still shows remnants of its Puritan past.

New England states are facing their worst fiscal crises in at least a decade. General revenues, especially those from the personal income tax, fell sharply in every New England state except New Hampshire in FY2002. All six states closed the fiscal year with deficits. Although preliminary reports...

New England’s economic performance was somewhat mixed during 2006. On one hand, all six states added jobs over the course of the year, and the region’s unemployment rate remained steady. The region as a whole picked up jobs in nearly all major industries. Export values and income and wages...

Initiatives crossing northern New England state borders—including Amtrak’s Downeaster service, joint Maine and New Hampshire efforts to save Portsmouth Naval Shipyard jobs, and Northern Forest Center collaborations—suggest regional economic activity is bigger than ever.

Following a weak performance in 2001, New England's economy continued to struggle throughout 2002. The region faced faltering employment levels, rising unemployment, and escalating consumer prices. Economic uncertainty was reflected in dwindling consumer confidence. Despite a rather gloomy labor...