Richard Fisher, President of the Federal Reserve Bank of Dallas, assured the audience that employment rates in Texas are on the rise.
Fisher, wearing a purple tie in honor of TCU, discussed the current financial situation in north Texas. While some critics fear the Texas economy consists only of low-paying jobs in the oil and gas field, Fisher argued against that perspective.
“Employment in Texas is pretty much everywhere,” he said. “We’re very lucky because we have growth in all areas.”
Finance majors in the Neeley School of Business were invited to attend the luncheon, held on Jan. 31. Also included were members of Neeley Fellows and other students in the Neeley school.
“One of my favorite parts was President Fisher’s explanation of the Texas economy juxtaposed to the US as a whole,” said junior marketing major and Neeley Fellow Megan Sjulin. “It definitely showed how amazing the Texas economy has bounced back, especially in the area of job growth.”
At the event, Fisher also discussed the responsibilities of the Federal Reserve Bank, which include printing currency and regulating banks across the country.
He paid special recognition to Ann Worthy, the Texas Head of Banking Regulation, who was also in attendance. He referred to Worthy as “the most powerful woman in banking in Texas.”
Fisher discussed the financial success of the Federal Reserve Bank of Dallas, noting that 80 percent of all currency in the United States is printed in Texas.
He also said that as president of the bank, he personally reviews every single loan approved by the bank.
In closing, Fisher discussed his appreciation for the Mexican economy. He commended their export system and emphasized the importance of a strong global economy.
The session concluded with questions from the audience.
Many business students were in attendance at the event, which was also a networking opportunity.
“I really enjoyed the event!” said Sjulin.