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2024 Regional Economic Conditions Conference

January 12, 2024 | 9:00 a.m. â€“ 12:05 p.m. CT
Virtual video event

2024 Regional Economic Conditions Conference

The Federal Reserve Bank of Minneapolis hosted its seventh annual Regional Economic Conditions Conference on January 12, 2024. The half-day conference featured Mortenson Construction Chairman David Mortenson, who talked with Minneapolis Fed President Neel Kashkari about the economic challenges and opportunities in the construction sector. The conference also featured presentations and panel discussions with representatives of each state in the Ninth Federal Reserve District, which includes Montana, North Dakota, South Dakota, Minnesota, northwestern Wisconsin, and Michigan’s Upper Peninsula.

Event Details

Virtual video event

Event Agenda

Friday, January 12, 2024

9:00 a.m.–9:05 a.m. CT Welcome and Context
Neel Kashkari, President and CEO, Federal Reserve Bank of Minneapolis
9:05 a.m.–9:45 a.m. CT Fireside Chat
David Mortenson, Chairman, Mortenson Construction
Neel Kashkari, President and CEO, Federal Reserve Bank of Minneapolis
9:45 a.m.–10:00 a.m. CT Presentation: Construction Conditions and Outlook [Slides]
Ron Wirtz, Regional Outreach Director, Federal Reserve Bank of Minneapolis
10:00 a.m.–11:00 a.m. CT State Labor Force Overview
10:00–10:15: Angelina Nguyá»…n [Slides]
Research Director, Minnesota Department of Employment and Economic Development

10:15–10:30: Matthew Kures [Slides]
Community Economic Development Specialist and Researcher, University of Wisconsin–Madison

10:30–10:45: Amy Berglund [Slides]
Director of Business Initiatives, Invest UP

10:45–11:00: Moderated Discussion
Moderator: Erick Garcia Luna
Regional Outreach Director, Federal Reserve Bank of Minneapolis
11:00 a.m.–11:05 a.m. CT Break
11:05 a.m.–12:05 p.m. CT State Economic Conditions
11:05–11:20: Joseph Santos [Slides]
Professor and Director, Ness School of Management and Economics, South Dakota State University

11:20–11:35: David Flynn [Slides]
Professor, Economics and Finance, University of North Dakota

11:35–11:50: Amy Watson [Slides]
State Economist, Montana Department of Labor & Industry

11:50–12:05: Moderated Discussion
Moderator: Joe Mahon
Regional Outreach Director, Federal Reserve Bank of Minneapolis

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Presenter Information

Amy Berglund

Amy Berglund Director of Business Initiatives
Invest UP

Amy Berglund received her bachelor’s degree in mass communications and master’s degree in public administration at Northern Michigan University. In her role with the Upper Peninsula’s Collaborative Development Council, she spearheaded the first comprehensive regional labor market study that was completed in the summer of 2023. In addition to her current role, she’s held positions in the business development department at the Michigan Economic Development Corporation and was a regional representative for the Office of U.S. Senator Carl Levin.

David Flynn

David Flynn Professor of Economics and Finance
University of North Dakota

David Flynn is research director at the Institute of Policy and Business Analytics at the Nistler College of Business & Public Administration at the University of North Dakota. He is also the Aarestad Endowed Chair in the Department of Economics & Finance at Nistler College. He regularly analyzes and forecasts employment, tax, and economic and demographic variables in the regional and North Dakota economy, as well as at the sub-state level. David’s other recent projects include economic effects of unmanned systems in native and rural areas, analysis of factors impacting development of the critical minerals/rare earth elements industry in the state and the region, and changes in fertility rates and patterns due to natural disasters.

Neel Kashkari

Neel Kashkari President and CEO
Federal Reserve Bank of Minneapolis

Neel Kashkari has been president and CEO of the Federal Reserve Bank of Minneapolis since January 1, 2016. He serves as a voting member on the Federal Open Market Committee, bringing the Ninth Federal Reserve District’s perspective to monetary policy discussions in Washington, D.C.

In addition, Neel oversees Minneapolis Fed operations and leads its many initiatives. He was instrumental in establishing the Opportunity & Inclusive Growth Institute, whose mission is to ensure that world-class research helps to improve the economic well-being of all Americans.

Most recently, he’s supported the expansion of the Center for Indian Country Development, which advances the prosperity of Native nations and Indigenous communities through actionable data and research.

Neel earned his bachelor’s and master’s degrees in mechanical engineering from the University of Illinois. He became an aerospace engineer, developing technology for NASA missions. Eventually turning to finance and public policy, he earned his MBA from the University of Pennsylvania’s Wharton School, joined Goldman Sachs, and served in several senior positions at the U.S. Department of the Treasury, including overseeing the Troubled Assets Relief Program, or TARP, during the financial crisis.

Before joining the Minneapolis Fed, he spent four years at PIMCO and then, in 2014, ran for governor of California on a platform focused on economic opportunity.

He lives with his wife, Christine; children, Uly and Tecumseh; and Newfoundland dog, Webster, in Orono, Minnesota.

Matt Kures

Matthew Kures Community Economic Development Specialist and Researcher
University of Wisconsin–Madison

Matthew Kures is a Distinguished Community Economic Development Specialist and Researcher with the Community Development Institute at the University of Wisconsin–Madison, Division of Extension. Matthew works in partnership with the Extension’s statewide network of resources to assist communities and organizations in the areas of regional economic analysis, labor force research, and industry sector competitiveness. He has authored numerous studies on Wisconsin’s economy and makes frequent presentations to local, regional, and national audiences. Matthew has worked at the University of Wisconsin for more than 20 years and has his bachelor’s and master’s degrees from the University of Wisconsin–Madison.

David Mortenson

David Mortenson Chairman
Mortenson Construction

David Mortenson is the chairman and CEO of the parent company, M. A. Mortenson Companies, Inc., and chairman of Mortenson, a privately held, top-20 developer and design-builder, serving the commercial, institutional, corporate, and energy sectors. Headquartered in Minneapolis, Minnesota, Mortenson has more than 6,000 team members in 13 North American offices. The company is North America’s largest design builder of renewable energy projects and the leading builder of sports stadiums and arenas in America. Mortenson was awarded “Best Place to Work” over 40 times in multiple locations over the past 10 years, ranked #115 among Forbes’ 500 Largest Private Companies, and is dedicated to giving back 5 percent of the company’s net pre-tax profits to local charities every year.

David joined the family business after serving as the combat information center officer on board the USS Hewitt. He worked his way up through project management, was the project director on the Walt Disney Concert Hall in Los Angeles, and eventually led the company’s West Coast business before returning to company headquarters to ultimately lead the family business.

Angelina Nguyá»…n

Angelina Nguyá»…n Research Director
Minnesota Department of Employment and Economic Development

Angelina Nguyá»…n is the director of the Minnesota Department of Employment and Economic Development’s (DEED) Labor Market Information Office. Her office conducts surveys and research to produce Minnesota’s employment statistics and provide information on labor market trends.

Angelina brings a strong background in labor market data as well as experience at various state agencies and a passion for creating strong and equitable communities. She joined DEED’s senior leadership team after managing the Minnesota Department of Labor & Industry’s Research and Statistics Unit, where she served as the liaison with the Federal Department of Labor’s Bureau of Labor Statistics. Prior to that, she provided data analysis and research for the state’s Department of Human Services in its Child Support Division. Angelina also served as the capacity director for the Council on Asian Pacific Minnesotans, a state agency established to advise the governor’s office and Legislature on issues of importance to the Asian Pacific people of Minnesota.

Angelina earned a Master of Development Practice from the University of Minnesota’s Humphrey School of Public Affairs. She also holds a B.S. in economics and mathematics as well as a B.A. in political science from the University of Minnesota.

Joseph M. Santos

Joseph M. Santos Professor and Director of the Ness School of Management and Economics
South Dakota State University

Joseph M. Santos is the director of the Ness School of Management and Economics at South Dakota State University, where he also leads the Dykhouse program in Money, Banking, and Regulation. His teaching portfolio has included undergraduate and graduate courses in macroeconomic theory and policy and financial institutions. His research includes measuring the burdens of financial regulation and the credibility of monetary policy, chronicling and assessing the efficiency of early 20th-century commodity futures markets, and evaluating the distribution of instructional resources across institutions of higher education. In his spare time, he is the voice of Monday Macro, which airs on select Mondays on South Dakota Public Radio’s In the Moment with Lori Walsh. He earned a bachelor’s degree in economics from The College of New Jersey and his master’s and doctoral degrees in economics from Rutgers University.

Amy Watson

Amy Watson State Economist
Montana Department of Labor & Industry

Amy Watson is the state economist with the Montana Department of Labor & Industry, where she conducts ongoing analysis on Montana’s economic and demographic conditions to help inform policy decisions. With nearly 10 years of experience as a labor economist, Amy publishes original research on issues impacting the Montana labor market—specializing in health care, education, and childcare research. Most recently, Amy published the annual Labor Day Report for the governor on the state of the Montana economy. This report serves as a guiding document for workforce and economic development efforts across the state.

Amy holds a master’s degree in applied economics from Montana State University and bachelor’s degrees in economics and finance from Linfield University in McMinnville, Oregon. Amy is originally from central Oregon and now lives in Montana where she spends most of her free time with her husband and three small children exploring the outdoors.