. our research is conducted in accordance with data principles recognizing the important responsibilities associated with collecting and analyzing indigenous data to ensure that indigenous data sovereignty and governance are respected. the third, and perhaps most important, is empowerment. our research and programs enable our reserve banks to assist indigenous communities through information and resources to plan their own economic futures. for example, our native economic and financial education empowerment program works with indigenous communities to provide free economic and personal finance education that incorporates indigenous language and culture. our working communities challenge facilitates local collaboration to increase economic opportunity in rural areas. this program serves as a first - of - its - kind venue to connect tribal leaders, nonprofit organizations, and private - and public - sector leaders around economic development efforts. most recently, leaders convened to understand data gaps across the full partnership and how they can better leverage data across organizations as they work toward expanding the number of living - wage jobs and reducing rates of childhood poverty within the community. indigenous voices and perspectives are a critical part of this effort. we're also developing new data tools and research partnerships that help indigenous communities conduct research on economic opportunities. for example, our native american funding and finance atlas is a publicly available interactive map tool that identifies the financial institutions, lending activity, and economic development programs in their tribal community and surrounding areas. i'm proud of the federal reserve system's efforts to further indigenous financial inclusion, and i'm grateful for this opportunity to learn from the dedicated efforts of our network partners. there is so much important and impactful work happening, and i look forward to the progress that we will continue to make together. thank you. 1 the views here expressed are my own and not necessarily those of my colleagues on the board of governors of the federal reserve system or at the reserve banks. return to text 4 / 4 bis - central bankers'speeches

michelle w bowman : panel remarks - 2023 symposium on indigenous inclusion panel remarks by ms michelle w bowman, member of the board of governors of the federal reserve system, at the 2023 symposium on indigenous inclusion, the central bank network for indigenous inclusion and the reserve bank of new zealand - te ptea matua, auckland, 27 september 2023. * * * governor bowman was asked to make remarks responding to two questions. below are the questions and her responses. panel question 1 : why should indigenous financial inclusion be a core focus for central banks? i'd like to thank the reserve bank of new zealand and governor orr for hosting this symposium and for the invitation to participate. 1 it is an honor to join my network colleagues for this important discussion. as the federal reserve board's representative to the network, i recognize and acknowledge that the united states and the foundation of its economy were built on land enriched by its original indigenous inhabitants and their stewardship of its natural resources. recent natural disasters affecting indigenous communities in network countries highlight the importance of our work. those harmed by the recent wildfires in hawaii and canada, as well as cyclone gabrielle here in new zealand, face substantial economic headwinds. i hold these communities close in my thoughts. i see two fundamental reasons why central banks should focus on indigenous financial inclusion. the first is our responsibility to foster an economy that works for everyone. second is the wisdom we can gain from community - led approaches to expanding financial opportunity. in order to effectively support inclusive economic growth, we need to understand the economic conditions of indigenous communities. the federal reserve's ongoing research and outreach enable us to gain insight about economic barriers that indigenous communities face. our recent research notes several challenges, including those related to labor market conditions, affordable credit and financial services access, homeownership, and broadband access. our efforts to understand these challenges support our ability to provide information and resources that can help address the needs. for example, our research has found that indigenous communities have less access to high - speed internet. during the pandemic, indigenous communities participated less in remote work - which may, in part, reflect this lack of access. in addition to our research, we will convene a conversation among indigenous communities, federal policymakers, and researchers to discuss the challenges and opportunities to advance broadband service networks. 1 / 4 bis - central bankers'speeches our research has also shown that on average, indigenous borrowers pay more for home loans. while there is