Friday, November 16, 2018

New York Fed president to visit USVI,  Puerto Rico on March 6 and 7

By on March 2, 2018

William C. Dudley, President of the Federal Reserve Bank of New York (REUTERS/Nacho Doce)

SAN JUAN — Federal Reserve Bank of New York President William C. Dudley will visit the U.S. Virgin Islands (USVI) and Puerto Rico on March 6 and 7 to meet with leaders in the local nonprofit, government and business sectors.

The trip will “primarily focus on understanding current economic conditions and recovery efforts” in the aftermath of Hurricanes Irma and Maria, according to a Treasury posting.

On March 6, Dudley will participate in a breakfast roundtable with nonprofit leaders on St. Thomas, followed by a tour of the Tutu neighborhood to understand rebuilding efforts. Afterward, he will discuss the hurricanes’ impacts on the local economy with USVI Gov. Kenneth Mapp and will separately meet with business community leaders.

From there, Dudley will head to San Juan and meet with Gov. Ricardo Rosselló. He will then hold a “dinner discussion with small business service providers that provide capital assistance, workspace, mentorship support, and other services to developing firms across Puerto Rico,” the media advisory reads.

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On March 7, Dudley will tour the Martin Peña Channel neighborhood to “learn firsthand about recovery efforts underway.” He will then give a presentation with New York Fed economists at an event hosted by the Puerto Rico Chamber of Commerce.

The presentation at the La Concha Resort will focus on the “unfolding economic situation in Puerto Rico.” After taking questions at the event, Dudley will proceed to “discuss the island’s housing crisis with foreclosure prevention and legal service providers” at an unspecified location.

The trip will conclude with a lunch discussion with the members of the Puerto Rico Bankers Association “focused on developments in the banking sector.”

 

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