Chad Wilkerson was our guest speaker at the 3-8-2012 meeting of the Rotary Club of Chickasha. He is Branch Executive of the Kansas City Federal Reserve Bank Oklahoma City Branch office and regional economist in the state of Oklahoma.                                                   

The March 8, 2012 meeting of the Rotary Club of Chickasha opened with a prayer, pledge and songs.

Prayer concerns included Bill and Janice McVey. Bret Burns, who recently had knee surgery, was able to hobble to the meeting.

Rotarians are asked to contact Bill McVey if they can help with greeting freshman students each Friday from 7:30 to 7:45 a.m. at Chickasha HS.

Nathan Donald, executive director of the Chickasha YMCA, is the club's newest member. He moves his Rotary membership to Chickasha from the Rotary Club of Nederland, TX.

President Michael Oberlender announced that the board has decided to scrap the Shrimp and Crab Boil fundraiser, because of escalating costs and declining profits.

Instead, the club will seek other opportunities to raise money, including this year with the Rotary Day Run which will include a 10K run. It is expected by adding the longer race, an additional 50 or so runners will enter.

The expanded run will need all Rotarians to help that day, so mark Saturday, May 19 on your calendar.

Also, if your business of if you know of business that might benefit from being a run sponsor, please contact Rotarian Brad Duvall.

Frank Farmer was Rotarian of the Day. He introduced our guest speaker Chad Wilkerson, who is Branch Executive of the Kansas City Federal Reserve Bank Oklahoma City Branch office and regional economist in the state of Oklahoma.

Wilkerson explained the role of the Federal Reserve and then delivered a powerpoint presentation giving an economic outlook for the U.S. and Oklahoma.

He said the OKC branch of The FED has a staff of 35 and provides economic research, bank examinations, economic and financial eduction and community development outreach to low and moderate income areas. The OKC branch has a 7-member board of directors.

Wilkerson outlined several key economic indicators including:

• Expected Solid Gross Domestic Product growth in 2012 but unemployment to only come down slowly the next few years.

• Inflation pressures should stabilize.

• The level of jobs in Oklahoma is nearly back to pre-recession levels, unlike the U.S.

• Growth in most state sectors slowed in the second of 2011, except energy and health.

• Early 2012 data forecast moderate growth.

• Oklahoma's unemployment rate has rise as workers resume searching for jobs. Unemployment remains low in western, central and southern Oklahoma.

• Wages in the state are catching up with the region and nation.

• Homes prices in the state have held up better than nation as a whole.

• Oil and gas lease rates have continued to rise in Oklahoma and other energy states.

• Natural gas drilling has fallen sharply in the state, but oil has so far replaced the drop off.

What does all that mean?

Wilkerson says the U.S. economy continues to grow moderately, amid limited inflation and continued risks from Europe. And, growth in Oklahoma has slowed a bit recently but conditions remain much better than the nation as a whole.

The meeting adjourned after recitation of the Rotary 4-Way Test.