Barr, Rural Communities: Worth the Investment
Federal Reserve (Speeches & Testimony)
Federal Reserve (Speeches & Testimony) · Apr 14, 2026
Barr's Federal Reserve address argues that rural America is diverse and requires adaptable, locally driven development strategies supported by capital and public-private partnerships. He identifies intrinsic constraints such as population decline, the loss of banks and services, and housing affordability, but also highlights success stories—from DeWitt, Arkansas, and the West Virginia towns to tribal loan programs—where diversification, placemaking, and CDFI-led financing have spurred renewal. He also notes external pressures (trade policy, energy/input costs) and long-term shifts toward higher-skill industries and AI, urging proactive policy and investment to sustain rural growth, a core part of the Fed's inclusive-growth mission.