February 21, 2019
Access to Leaders
COB students hear from Richmond Fed President
Federal Reserve Bank of Richmond President and CEO Tom Barkin speaks to students. (ECU Photos by Cliff Hollis)
Approximately 100 business and economics students and faculty packed a classroom to listen to Tom Barkin, president of the Federal Reserve Bank of Richmond. His visit to ECU and the College of Business (COB) marked his first time speaking with college students in North Carolina.
As part of his presentation, Barkin discussed the role of the Federal Reserve in the national and regional economies, as well as how his business experience prepared him to be president of one of 12 regional Reserve Banks across the country.
“Visiting ECU gave me the opportunity to engage in good conversation with students, both about the Federal Reserve and about their interests,” said Barkin. “They asked great questions, and I hope my answers were useful.”
Dr. James Kleckley is the director of professional services and research for the COB. He moderated Barkin’s presentation. Knowing the conversation and questions would touch upon finance, Kleckley also invited Barkin to discuss his business and leadership approach.
“At the College of Business, we build leaders,” said Kleckley. “I think the students and faculty appreciated hearing about Mr. Barkin’s leadership philosophy and learning more about how his business and educational background prepared him for his role at the Richmond Fed.”
James Kleckley, left, and Tom Barkin
From an operations standpoint, Barkin also discussed with Kleckley his day-to-day role as a member of the Federal Open Market Committee and how he defends the independence of the Federal Reserve, considering the many recent, headline-making attacks via social media.
“I think it was important for everyone to understand that Mr. Barkin’s position is much more than policy and economics,” add Kleckley. “I’m glad that Mr. Barkin had the opportunity to learn more about ECU and how it and the College of Business are positively trying to impact the region.”
Rural Prosperity Initiative
One initiative Barkin learned about during his visit was ECU’s Rural Prosperity Initiative, which is designed to harness the intellectual strengths and research resources of ECU to improve the quality of life, health, education and employment for the people in eastern North Carolina.
“ECU’s Rural Prosperity Initiative is the kind of important effort where I think the Richmond Fed’s research and expertise can help make a difference,” added Barkin.
“I’m certainly pleased that he showed interest in ECU’s Rural Prosperity Initiative,” said Kleckley. “In fact, we’re already in communication with his (Mr. Barkin’s) staff to see how we can work more closely together with the Richmond Fed.”
Business and economics students listen to Tom Barkin, president, Federal Reserve Bank of Richmond
Takeaways
Dr. Jaclyn Beierlein is an associate professor of finance in the COB. She and her finance students attended Barkin’s talk. From Beierlein’s perspective, the most important thing Mr. Barkin discussed was the impact that the last recession had on
“He noted that it seemed businesses were beginning to get over that fear, but the uncertainty related to trade disputes and what will happen with Brexit has set many back on their heels again,” said Beierlein. “In short, of all the things that may hinder growth in this economy, uncertainty is probably the most powerful.”
Karefa Dabo is a finance senior from Winston-Salem, North Carolina and president of the student chapter of COB’s Financial Management Association. He, along with other officers from the association, attended Barkin’s presentation and felt more informed afterward.
“As a student, I was truly inspired by his (Barkin’s) congeniality and ability to convey information in a practical manner,” said Dabo. “I know that I speak for all students and faculty in attendance when I say that Mr. Barkin’s time was truly appreciated. He was an esteemed guest that we all hold to the utmost regard and hope to see him again soon.”
The Federal Reserve Bank of Richmond serves the 5th District (North Carolina, Maryland, South Carolina, Virginia, most of West Virginia and Washington, D.C.). Barkin’s visit to ECU is part of his ongoing engagement with people and communities around the district. His trip to ECU marked his third visit to universities. He previously spoke with students at Marshall University and George Mason University.
Officers from the COB’s Financial Management Association recently heard from Tom Barkin, president of the Federal Reserve Bank of Richmond. Pictured, from left to right, Jacob Heslin (VP); Karefa Dabo (president); Tom Barkin; Isabel Ruch (dir. of marketing); and Travonte Ham (treasurer).
About the college: ECU’s College of Business offers a Bachelor of Science in business administration with 10 concentrations and a Bachelor of Science in hospitality management with three concentrations. Graduate programs include a Master of Business Administration (MBA), Master of Science in accounting, Master of Science in sustainable tourism and hospitality and an accelerated Doctor of Medicine and MBA program. Also, 13 graduate certificates are available. Located in Greenville, North Carolina, it currently has more than 28,000 alumni throughout the United States. It’s one of the largest colleges of business in North Carolina.
- Categories:
- Feature
- Finance
- LCD
- Spring 2019
- Stocknotes