Federal Reserve Bank of Boston president says she's encouraged by New Hampshire's economy

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AND ISABEL, SHE SAYS SHE IS GENERALLY OPTIMISTIC. THAT’S RIGHT. AND IN PART, THAT’S DUE TO THE UNEMPLOYMENT RATE. EVEN WITH THE SLIGHT INCREASE, IT’S STILL CONSIDERED HISTORICALLY VERY LOW. SUSAN COLLINS WITH THE FEDERAL RESERVE SPOKE WITH LOCAL BUSINESS OWNERS AND TELLS ME SHE WAS ENCOURAGED BY THE DEVELOPMENT IN MANCHESTER. HOWEVER, SHE IS HEARING FROM EMPLOYERS WHO SAY THEY’RE HAVING A HARD TIME BUILDING THEIR WORKFORCE. SHE SAYS THAT CORRELATES TO HOUSING ISSUES WHICH ARE TOP OF MIND FOR NEW HAMPSHIRE RESIDENTS AND EMPLOYERS. COLLINS SAYS THERE’S BEEN A RECENT UPTICK IN PEOPLE APPLYING AND GETTING PRE-APPROVED FOR LOANS. SHE ALSO REFERENCED THE RECENT FEDERAL RESERVE CUTS THAT DID LEAD TO A DECREASE IN MORTGAGE RATES. THE PROBLEM IS COST AND THE LOW SUPPLY OF HOUSING IN THE GRANITE STATE. IN ADDITION TO MORTGAGE RATES THAT ARE REALLY INFLUENCING SOME OF THE CHALLENGES AROUND HOUSING IN TERMS OF JUST AVAILABILITY AND AFFORDABILITY, ACCESSIBILITY, AND THAT’S ACROSS ALL OF THE INCOME LEVELS. IT’S NOT JUST AT ONE INCOME LEVEL. SO I HEAR ABOUT THAT FROM EMPLOYERS. ALSO. AS FAR AS BUILDING NEW STRUCTURES AND FUTURE DEVELOPMENT GOES, COLLINS SAYS SHE’S HEARING GENERAL CONCERNS ABOUT TARIFFS AND HOW THAT COULD IMPACT INFLATION. SHE SAID THAT REALLY DEPENDS ON HOW LONG WIDE REACHING TARIFFS ARE IN PLACE.

Federal Reserve Bank of Boston president says she's encouraged by New Hampshire's economy

In a visit to New Hampshire on Tuesday, the president and CEO of the Federal Reserve Bank of Boston said she's optimistic about the state's economy.Boston Federal Reserve Bank President Susan Collins spoke with New Hampshire business owners and said she was encouraged by the low unemployment rate and tech development in Manchester.But she said business owners are facing a labor shortage. Attracting workers requires housing, which is a top concern for businesses and residents. Collins said there have been some positive signs, referencing recent Federal Reserve cuts that led to a decrease in mortgage rates. She said there has been a recent uptick in people applying and getting pre-approved for loans. >> Download the free WMUR app to get updates on the go: Apple | Google Play <<The problem is cost and the low supply of housing in the Granite State, she said. Collins said she's also hearing general concerns about tariffs and a potential trade war."We do think about the inflation impact, which could be relatively short-lived if the tariffs are kind of one round without being so broadly based and with additional rounds in retaliation, but it could be more significant than that," she said.Collins said the uncertainty surrounding tariff policies makes it hard to predict the actual impact on interest rates.

MANCHESTER, N.H. —

In a visit to New Hampshire on Tuesday, the president and CEO of the Federal Reserve Bank of Boston said she's optimistic about the state's economy.

Boston Federal Reserve Bank President Susan Collins spoke with New Hampshire business owners and said she was encouraged by the low unemployment rate and tech development in Manchester.

But she said business owners are facing a labor shortage. Attracting workers requires housing, which is a top concern for businesses and residents.

Collins said there have been some positive signs, referencing recent Federal Reserve cuts that led to a decrease in mortgage rates. She said there has been a recent uptick in people applying and getting pre-approved for loans.

>> Download the free WMUR app to get updates on the go: Apple | Google Play <<

The problem is cost and the low supply of housing in the Granite State, she said.

Collins said she's also hearing general concerns about tariffs and a potential trade war.

"We do think about the inflation impact, which could be relatively short-lived if the tariffs are kind of one round without being so broadly based and with additional rounds in retaliation, but it could be more significant than that," she said.

Collins said the uncertainty surrounding tariff policies makes it hard to predict the actual impact on interest rates.

Federal Reserve Bank of Boston president says she's encouraged by New Hampshire's economy

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