Federal Reserve Governor Barr Highlights Optimism, Persistent Challenges in Indian Country
MINNEAPOLIS, MN – Federal Reserve Governor Lisa D. Barr underscored a spirit of optimism within Native American communities despite ongoing economic hurdles during a speech today, emphasizing the critical role of data-driven community development initiatives. Barr’s remarks, delivered to an audience engaged in propelling their communities forward, focused on disparities in housing, finance, and entrepreneurship faced by Native Americans.
For decades, Native American communities have experienced systemic economic disadvantages, including limited access to credit, higher financing costs for home purchases, and barriers to entrepreneurship. These challenges contribute to meaningful wealth gaps and hinder economic self-determination. The Governor’s speech acknowledged these realities while highlighting the power of collaborative research and data analysis to inform effective solutions – a theme underscored by recent work from the Federal Reserve bank of Minneapolis and other agencies. The ongoing efforts aim to address past inequities and foster enduring economic growth within Indian Country.
Barr expressed particular encouragement from the resilience and forward-looking perspectives of those she has met.”Most in my visits is the sense of optimism for the future from so many people I have met, despite these challenges,” she stated. She thanked attendees for their commitment to leveraging research and data to drive positive change.
The Governor’s address drew attention to specific findings. Native Americans consistently pay more to finance home purchases than White borrowers, as detailed in recent research from the Federal Reserve Bank of Minneapolis. This disparity, alongside broader housing challenges, was previously examined in testimony before the U.S. Senate regarding federal programs and barriers to housing for Native americans in 2021. The Federal Reserve Bank of Minneapolis also provides detailed Native Community Data Profiles to support informed decision-making.
Barr also noted the difficulties Native entrepreneurs face in accessing credit, a challenge identified in recent Federal Reserve research. These obstacles echo concerns raised in a 1999 report to the President on the One-Stop Mortgage Center Initiative in Indian Country, highlighting the long-standing nature of these issues.
Looking ahead, the governor referenced forthcoming data from the Board of Governors’ 2024 Economic Well-Being of U.S. Households report, expected in May 2025, and insights from a decade of economic research in Indian Country, published by the Federal Reserve Bank of Minneapolis in April 2025. These resources, she emphasized, will be vital in shaping future policy and fostering economic opportunity.
- The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee.
- See the Federal Reserve of Minneapolis website at https://www.minneapolisfed.org/speeches/2021/us-senate-testimony-housing-for-native-americans-review-of-federal-programs-barriers-and-opportunities and https://www.minneapolisfed.org/article/2024/native-americans-pay-more-to-finance-home-purchases-than-white-borrowers.
- Federal Reserve Bank of Minneapolis, https://www.minneapolisfed.org/indiancountry/resources/native-community-data-profiles.
- Board of Governors of the Federal Reserve System, Economic Well-Being of U.S. Households in 2024 (Washington: Board of Governors,May 2025).
- See the Federal Reserve of Minneapolis website at https://www.minneapolisfed.org/article/2024/native-entrepreneurs-face-credit-access-challenges.
- U.S.Department of Housing and Urban Development and U.S. Department of the Treasury, One-stop Mortgage Center Initiative in Indian Country: A Report to the President (PDF) (Washington, DC: HUD, 1999).
- Casey Lozar, Caryn Mohr, and Ryan Nunn, “Insights from a Decade of Economic Research in indian Country,” article (Federal Reserve Bank of Minneapolis: April 3, 2025).
