Federal Reserve Chairman Jerome Powell said Tuesday he does not feel the probability of a recession "is at all elevated," and that the country is continuing to see solid economic growth.
But in a visit to a historically black university in the Mississippi Delta, Powell said that many rural areas have not benefited from the national prosperity. He said those areas need special support, such as access to affordable credit to start small businesses and high-quality education to train workers.
"We know that prosperity has not been felt as much in some areas, including many rural places," Powell said in an address to a conference on economic development at Mississippi Valley State University. "Poverty remains a challenge in many rural communities."
Overall, unemployment remains near a half-century low and describes economic output as continuing at a "solid pace," Powell said during discussion with students at Mississippi Valley State University. Powell said that he doesn't see signs of an economic downturn on the horizon.
He noted, however, that 70 percent of the 473 counties in the United States designated as having persistent levels of poverty were in rural areas. Among the problems being faced in the Mississippi Delta, Powell said, were the loss of jobs in agriculture and low-skilled manufacturing because of automation and outsourcing of manufacturing jobs.
Powell said many rural communities have limited access to education resources.
"Mississippi is one of several mostly rural states where nearly half of residents lack access to good quality childcare, which is the main source of early childhood education," Powell said.
Decades of research has shown that children who grow up in areas with better quality K-12 classes and with higher-quality teachers fare better later in life, Powell said. Rural areas also are at a disadvantage because of inadequate work training programs, he said.
"Rural areas where traditional industries are declining and where new employers may be moving in often experience a mismatch between the skills of local workers and those demanded by the new employers," Powell said.
Powell also noted the impact from a long-term decline in the number of community banks due to consolidation in the industry. The Fed last year held discussions with community leaders in rural areas that had recently experienced the closure of a branch bank.
"We found that small businesses, older people and people with limited access to transportation are most affected," Powell said.
He said the Fed had renewed its efforts to avoid unnecessary regulations on community banks to make sure federal rules were not contributing to the decline in community banks.
Asked about the Community Reinvestment Act, the 1977 law that requires the Fed and other federal banking regulators to encourage financial institutions to help meet the credit needs of low- and moderate-income neighborhoods, Powell said the Fed was committed to finding ways to provide better delivery of credit to under-served communities and not weaken the law.
OTTAWA, Ontario--(BUSINESS WIRE)--May 1, 2024--
As May marks Vision Health Month, the Canadian Association of Optometrists (CAO) releases a digital national campaign to raise public awareness about eye health and vision care, encouraging Canadians to get their eyes checked. Several provincial associations of optometrists ( New Brunswick Association of Optometrists, Newfoundland & Labrador Association of Optometrists, Nova Scotia Association of Optometrists, and The Prince Edward Island Association of Optometrists ) and sponsors from the industry - Alcon, CooperVision, and Sun Pharma - joined and supported this campaign.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240501239056/en/
Urgent need for public education about eye health and vision care
8+ million Canadians are at risk of eye-threatening conditions, yet 75% of vision loss can be treated or prevented if diagnosed early. Despite Canadians highly valuing their eyesight and fearing its loss, there is a prevalent lack of awareness regarding the necessity of regular, comprehensive eye exams. Many individuals often overlook the importance of thorough examinations for early detection.
A 2022 survey 1 revealed a telling statistic: 37% of respondents who had not seen an eye care professional in over two years did so because they believed there was nothing wrong with their vision. Additionally, the survey found that men in Canada are less likely than women to prioritize eye health.
With those statistics in mind, the CAO released a new digital campaign to raise public awareness about eye health and vision through a simple yet potent message: “GetEyeWise!”
“Many serious eye conditions do not present obvious symptoms initially. Waiting for symptoms to appear can expose individuals to significant risks, particularly within an aging population, those engaging in increased near-work, and amidst a myopia epidemic among children. Integrating eye care into the healthcare routines of all age groups, from toddlers to seniors, is crucial, ” says Dr. Martin Spiro, President of the Canadian Association of Optometrists.
Think of an eye exam as a physical for your eyes…and more
A comprehensive eye examination is the best tool for the early detection of eye disease and several systemic diseases. It is based on the premise that structural change in the eye (often at the microscopic level) manifests itself well before any functional changes and vision loss occur.
Optometrists diagnose, treat, and help prevent diseases and disorders affecting the visual system (the eye and related structures).
They also assist in identifying general health conditions like stroke, cardiovascular diseases, diabetes, hypertension, some cancers, brain injuries, and neurological conditions that are often first detected through a comprehensive eye exam. They provide referrals to specialists and can help manage post-eye-surgery health. From infants to seniors, optometrists provide care to help maintain good vision, eye health and quality of life.
The Canadian Association of Optometrists developed evidence-based guidelines for Recommended Frequency of the Comprehensive Eye Examination and calls on all Canadians to “GetEyeWise.”
“If grownups think their eyes are fine…then why are they always doing things like this?”
The national campaign features children mimicking adults’ faces in daily situations to encourage everyone to “GetEyeWise” and book an appointment with an optometrist. It will run throughout May on Facebook, Instagram, YouTube, TikTok, and Spotify in both official languages.
“Together with the Canadian Association of Optometrists, we are dedicated to raising awareness of the importance of regular eye exams and to helping people see brilliantly,” said Vanessa Johari Hansen, Country Business Unit Head, Vision Care, at Alcon Canada. “Too often, eye exams are neglected, but through our partnership, we're determined to enhance vision and improve eye health, recognizing their vital role in overall well-being."
To find more about the CAO campaign, please visit: https://opto.ca/geteyewise
About the Canadian Association of Optometrists
The Canadian Association of Optometrists (CAO) is the national voice of optometry and is dedicated to providing leadership and support to its 8,300+ members to enhance the delivery of healthy eyes and clear vision for all Canadians. For more information, visit www.opto.ca
About Alcon
Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of more than 260 million people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at www.alcon.ca
About CooperVision
CooperVision, a division of CooperCompanies (NYSE:COO), is one of the world’s leading manufacturers of contact lenses. The company produces a full array of daily disposable, two-week and monthly soft contact lenses that feature advanced materials and optics, and premium rigid gas permeable lenses for orthokeratology and scleral designs. CooperVision has a strong heritage of addressing the toughest vision challenges such as astigmatism, presbyopia, childhood myopia, and highly irregular corneas; and offers the most complete portfolio of spherical, toric and multifocal products available. Through a combination of innovative products and focused practitioner support, the company brings a refreshing perspective to the marketplace, creating real advantages for customers and wearers. For more information, visit https://coopervision.ca
About Sun Pharma
Sun Pharma entered the Canadian market in 2015 with the purchase of Ranbaxy Laboratories Limited, a Top 10 generic company in Canada since 2005. Sun Pharma is a world leader in branded and generic drugs and we are now well positioned to be an even larger contributor to the Canadian healthcare landscape.
With global manufacturing across six continents, we are investing in Canada by bringing high quality, affordable and innovative medicines to market. Our global strength in R&D with an unwavering commitment to quality ensures Sun Pharma will offer a wide range of affordable medicines for Canadians.
Taro Pharmaceuticals is the exclusive distributor of our specialty and generic products in Canada.
We feel the strength of our global Sun Pharma capabilities together with Taro Pharmaceutical’s 30-year commitment to Canadian manufacturing and distribution creates a unique pharmaceutical partner for our Canadian customers. It is our continued goal to provide our customers and partners with high quality products and exceptional customer service.
We look forward to many more years of providing Canadians with high quality and affordable medicines. To learn more, visit: https://sunpharma.com/canada-branded-products/
The Canadian Association of Optometrists Releases a New “GetEyeWise” Digital Campaign to Bring Awareness About Eye Health and Vision Care
