Southern governors recognize the importance of research and analysis to sustaining the region’s economic viability, and look to information and analysis from the Federal Reserve System’s regional banks to help identify and analyze economic trends.

Recently, presidents of three of the Fed’s regional banks met with SGA member governors to discuss regional economic growth and workforce pressures in a globalized economy.

• Mr. Dennis Lockhart, President and CEO of the Federal Reserve Bank of Atlanta spoke on the importance of education and retraining to make workers resilient to competitive pressures in a global economy, noting that the emergence of automotive manufacturing and the service industry throughout the Southern region has helped to compensate for weaknesses in textile and furniture manufacturing job losses in recent decades. Read more.

• Mr. William Poole, President and CEO of the Federal Reserve Bank of St. Louis spoke on the need for a deeper understanding of the critical importance of foreign economic growth for U.S. exports, and of the relationship between U.S. imports and U.S. exports -- specifically, that restricting imports to the Southern states could dampen their export opportunities. Read more.

• Mr. Richard Fisher, President and CEO of the Federal Reserve Bank of Dallas noted that SGA’s 16 continental states produce a combined output that is 76 percent greater than China’s. “The South is an economic jaggernaut,” and will continue to benefit from globalization and the shift to a service-based economy. Read more.