Richmond Fed President engages with local voices at UNC Pembroke

By Staff Report, posted Apr 23, 2025 on BizFayetteville.com

Chancellor Robin Gary Cummings (right) presents Federal Reserve Bank of Richmond President Tom Barkin with a handcrafted Lumbee pinecone patchwork artwork during his visit to UNCP. Photo provided by UNCP.

The head of the Federal Reserve Bank of Richmond recently met with local business owners and community leaders in Robeson County to gain firsthand insight into the economic challenges facing rural America. The visit offered a “boots-on-the-ground” look at the day-to-day realities shaping small-town economies, from workforce shortages to rising costs.

Back in February, Barkin served as the speaker at GFBJ’s first Power Breakfast of 2025.

During his stop at UNC Pembroke, Tom Barkin discussed inflation, workforce development and access to capital, emphasizing the importance of understanding local perspectives to inform monetary policy.

Barkin met with Chancellor Robin Gary Cummings and his leadership team during a roundtable discussion with business and community leaders, bankers and public officials. Earlier in the day, Barkin visited the Lumbee Tribe’s headquarters and met with tribal leaders.

“We were honored to welcome President Barkin and Dr. (Matt) Martin to UNC Pembroke,” Cummings said in a press release. “Their visit provided a valuable opportunity to demonstrate the university’s vital role as an anchor institution in southeastern North Carolina.”

“From the impact of NC Promise on access and enrollment, to our efforts in strengthening the local health care workforce and economy, our discussions reflected the full scope of UNCP’s commitment to regional progress,” Dr. Cummings added in a press release. “We explored the challenges and opportunities in recruiting and retaining talent, the influence of state and federal policy and our ongoing collaboration with town and county partners to drive economic growth. We were especially pleased to invite community leaders, including members of the Lumberton Rotary, for an opportunity to engage and hear from President Barkin.”

Kyle Chavis, CEO of Lumbee Guaranty Bank, said he appreciated Barkin’s visit, noting the importance of having the Federal Reserve Bank president hear directly from rural communities.

“It is invaluable to have someone of his stature and his position to spend time in our community, hearing from businesspeople, bankers and educators about what is going on in our community,” Chavis said in a press release. “He uses that information to go back to the Fed and craft policy, which, in turn, comes back and affects us. I appreciate that he gets out across his district and into the rural communities.”

During a luncheon hosted by the Lumberton Rotary Club, Barkin touched on various topics, including how tariff price hikes, proposed cuts in government spending and energy prices may impact the economy.

“The opportunity to talk to businesses and consumers and see how the economy has affected them, that’s the key insight we need to bring back to Washington,” Barkin said in a press release.

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