Harker: Economic Outlook and Final Thoughts

Good afternoon. It is a pleasure to speak with you today. This conference on the future of banking has brought together leaders from across the U.S. banking sector. I have enjoyed the sessions so far, including Brandon and Tara’s discussion earlier, and I look forward to learning more about how you are navigating change. As some of you know, I’ve spent my entire career in and around the banking industry. My first job out of college was as an FDIC examiner right here in Kansas City. Before long, though, I transitioned from the public to the private sector. For most of my professional life, I was a Nebraska banker. I served as president and CEO of a local community bank and a large enterprise with a national footprint. So, I have sat in the same seat as many of you. Later on, I was privileged to lead the Southwestern Graduate School of Banking Foundation at Southern Methodist University’s Cox School of Business. The focus of the school was to develop bank leaders and educate community bank directors. My experience across the industry ultimately lead to my appointment in 2023 as president and CEO of the Federal Reserve Bank of Kansas City — a true servant leader opportunity. So, throughout my career, Fed’s Schmid: Tariffs Likely To Raise Prices, Unclear By How Much - Fed Policy Needs To Be Nimble As We Balance Dual Mandate - Inflation, Employment Are Close To Mandate - Optimistic Economic Activity Can Be Sustained

FED'S HARKER: ESTIMATING TARIFF IMPACT IS A MOVING TARGET BUSINESSES COMMUNITY MAINLY WANTS STABILITY IN TRADE POLICY AT THIS POINT Fed's Harker: No Rush To Shrink Size Of Balance Sheet