In addition, all Reserve Banks and the Board of Governors are currently engaged in a System workforce development initiative that will gather up-to-date perspectives from employers and organizations engaged in worker training and education. This initiative will include a series of regional Reserve Bank meetings, a publication on effective investments and outcomes, and a capstone conference in October in Austin, Texas.
As for firms’ funding costs, the average contract interest rates on new loans and discounts have been at historic low levels and the issuance spreads for CP and corporate bonds have also been low.