Economy slowly improving, our area still cautious

Published On: Sep 05 2013 06:40:41 AM CDT   Updated On: Sep 05 2013 06:40:00 AM CDT

The Great Recession hit the United States five years ago.

The Coulee Region hasn't seen unemployment rates as high as much of the rest of the country, but people living here are still cautious as a slow economic recovery continues.

That's how the President of the Federal Reserve Bank of Minneapolis, Narayana Kocherlakota, describes people living in his district: Cautious.

He's an expert on financial issues in the ninth district of the U.S., which is home to nine million people, including those in the Coulee Region.

The caution he says he sees in people living here is just one of many uncertainties impacting the national economy as a whole that monetary policy needs to be able to respond to.

"I think what's important for us is not to dwell on any particular kind of uncertainty, but rather set up monetary policy in such a way that it's responsive or robust against all kinds of uncertainties," says Kocherlakota.

Kocherlakota spoke at an event at UW-La Crosse on Wednesday.