Federal Reserve Bank of Boston

The Boston Fed is welcoming four new members to its Community Development Advisory Council:

Kelly Aiken, director of workforce development and planning at UMass Memorial Health
Betsy Biemann, chief executive officer of CEI (Coastal Enterprises, Inc.)
Aisha Necoechea, executive director of BEST Hospitality Training
Bill Yelenak, president and CEO of Providers’ Council

New England Community Development Advisory Council members include representatives from the private, public, and nonprofit sectors who advise the president of the Boston Fed on community development matters, including its challenges and barriers. The council also shares its perspectives with the wider Federal Reserve System and offers recommendations to strengthen the Bank’s support of communities across New England.

Learn more: https://www.bostonfed.org/news-and-events/news/2026/03/boston-fed-new-external-advisory-council-members.aspx

The Boston Fed is welcoming three new members to its Community Depository Institutions Advisory Council:

Caroline Carpenter, president and CEO of National Bank of Middlebury
Glenn Hutchinson, president and CEO of Bath Savings
Larissa Thurston, president and CEO of Jeanne D'Arc Credit Union

Community Depository Institutions Advisory Council members offer perspectives on economic issues, lending practices, and other banking activities. The 12-member council includes representatives from banks, thrifts, and credit unions with assets under $10 billion.

Learn more: https://www.bostonfed.org/news-and-events/news/2026/03/boston-fed-new-external-advisory-council-members.aspx

The U.S. payment system touches nearly every part of daily life – and the FedNow Service helps keep money moving safely and reliably.

In the latest episode of the Boston Fed’s Six Hundred Atlantic podcast, FedNow executive Nick Stanescu explains how FedNow moves money in seconds and how financial institutions are using the service to improve cash flow and modernize customer experiences. He also discusses how the Fed is working to enable cross-border instant payments from the U.S. to other countries:

Listen here: https://www.bostonfed.org/publications/six-hundred-atlantic/interviews/fednow-modernizing-payments.aspx

The Boston Fed is welcoming three new members to its New England Advisory Council:

Aaron Brandt, president and CEO of Hypertherm Associates
Luke Holden, founder and CEO of Luke's Lobster
Jennifer Jackson, CEO of the Connecticut Hospital Association

New England Advisory Council members lead small and mid-sized businesses throughout the Fed’s First District. The council provides policymakers with insights into the region's economic landscape, offering perspectives on important business factors such as employment trends, wages, pricing, and more.

Learn more: https://www.bostonfed.org/news-and-events/news/2026/03/boston-fed-new-external-advisory-council-members.aspx

Eastern Bank's Executive Chair Robert Rivers has built his career on a community-first mindset, shaped by his early jobs as a bank teller and janitor and strengthened through decades of leadership at the New England-based community bank.

Rivers also represents the Boston Fed as a member of the Federal Reserve System’s Advisory Council, where he provides insights into New England’s economy that aren’t always evident in national data.

In a conversation with Allison Ross, Rivers says “It’s critically important that we do everything we can to protect and grow the communities we serve, and who, in turn, support us.”

Read more: https://www.bostonfed.org/news-and-events/news/2026/03/boston-fed-advisory-council-member-bob-rivers-president-of-eastern-bank.aspx

“Is college worth it?” Boston Fed research indicates the answer is yes. It shows a correlation between higher salaries and higher educational attainment in New England over the last 40 years. Also, people with more education have higher starting wages and steeper salary raises throughout their careers.

But there’s nuance.

Pinghui Wu is a senior economist who co-wrote the recent research. She joins the Six Hundred Atlantic podcast to discuss why New England has higher educational attainment than most regions, and how that affects incomes. She also talks about the “college premium” – the fact that workers with college degrees earn more than those with high school degrees. And she explains how that premium grows or shrinks based on factors like gender, what people study, and the availability of work in a skilled trade.

Listen to the episode: https://www.bostonfed.org/publications/six-hundred-atlantic/interviews/is-college-worth-it.aspx

Boston Fed President Susan M. Collins and First Vice President Karen Pennell traveled to Western Massachusetts on Friday to hear more about local economic opportunities and challenges.

Collins and Pennell began their visit at ISO New England. Then, Collins delivered the keynote address at “Outlook 2026,” an event hosted by the Springfield Regional Chamber. They concluded the day with a visit to Clarkdale Fruit Farms and the Western MA Food Processing Center in Greenfield, Mass., to meet with small business owners.

A full recap is coming soon to bostonfed.org.

Boston Fed President & CEO Susan M. Collins will deliver the keynote address at the Springfield Regional Chamber's Outlook 2026 event on Friday, March 6. Collins will begin her remarks at approx. 1:20 p.m. ET.

Watch live:

Collins delivers keynote at Springfield Regional Chamber's 2026 OUTLOOK Boston Fed President & CEO Susan M. Collins serves as the keynote speaker for the Springfield Regional Chamber of Commerce's 2026 OUTLOOK event.

AI is gaining traction, but it’s not the driving force behind the recent surge in U.S. productivity, according to Boston Fed President Susan M. Collins and Federal Reserve Bank of Richmond President Tom Barkin. However, both see AI adoption as potentially fueling future productivity gains.

Collins said she has seen an uptick in AI experimentation, although its effects may not yet be widespread. She said business leaders frequently tell her they’re using AI to enhance ongoing work, rather than replace staff.

“I do think it’s important … to think about how to effectively train and prepare our workforces for the changes that are coming,” she said.

The discussion between Collins and Barkin about AI’s role in the U.S. economy was moderated by Axios’ Neil Irwin and took place during the 2026 Technology-Enabled Disruption Conference: Shaping the Future of Finance and Payments. Read a full recap of their conversation: https://www.bostonfed.org/news-and-events/news/2026/02/fed-presidents-inflation-jobs-ai-tech-conference.aspx