Is Silver Poised to Catch Up to Gold's Record Rally?

Good morning and thank you for the invitation to join you here at the 20th anniversary celebration for Cuyahoga Community College’s Corporate College. I’m happy to recognize the impact of community colleges like Tri-C. These most outstanding institutions offer opportunity and a chance for businesses to collaborate with educators to deliver customized training for evolving needs. They give students of all ages and socioeconomic backgrounds a chance to earn a degree, get certified for a current career, get back on track toward a goal, or start a new track altogether. They offer possibility, especially for nontraditional students. Tri-C’s student body exemplifies this, with nearly 80 percent of students enrolled part time while working and an average student age of around 26 years old. And I know personally that they offer support and encouragement. My oldest child recently wanted to get back on track toward his goal of getting a four-year degree. A community college offered the right bridge at the right time to help him do that. But a four-year degree isn’t everyone’s goal. Corporate College’s enduring success shows that. Its focus on ongoing professional training and entrepreneurship also aligns with two of the Cleveland Fed’s community development priorities: workforce development and small businesses, both of which I’ll discuss in more depth shortly. As we know, challenges in the community space abound. If only it was as simple as climbing into an old-fashioned telephone booth, dialing the right number…and being transported through space and time to the people who have all the right answers, just like Bill and Ted did on their most unprecedented journey. While it may not be quite that simple for us, I’d like to invite you all to join me on our own excellent community development adventure. Before I continue, I note that the views I present a Fed’s Hammack Makes No Comments on Monetary Policy or Economic Outlook in Prepared Remarks.