Federal reserve economist discusses Oklahoma economy at LCEDC

Business and community leaders gathered at Meridian Technology Center on May 6 to hear an economic outlook presentation from Cortney Cowley, Oklahoma City Branch Executive for the Federal Reserve Bank of Kansas City.

Cowley spoke during an event hosted by the Logan County Economic Development Council (LCEDC), focusing on economic trends affecting Oklahoma, rural communities, housing, and small businesses.

LCEDC promotes and expands the economic base of Logan County by assisting with community, state, and federal resources that will stimulate the growth of Logan County’s economy.

During the presentation, Cowley said current economic growth in the United States continues to be driven largely by consumer spending from higher-income households and investment in technology-related industries.

She noted that job openings in Oklahoma still outnumber unemployed workers, although labor conditions have returned closer to pre-pandemic levels. Businesses, she said, are citing uncertainty and lower expected demand as the top reasons for slowing hiring activity, while few employers currently view artificial intelligence as a replacement for workers.

Cowley also discussed slowing job growth nationally, with much of the recent employment gains concentrated in healthcare. Oklahoma, meanwhile, experienced job losses in 2025, and unemployment has increased slightly while remaining relatively low overall.

According to Cowley, Oklahoma’s job growth has slightly lagged behind the national average over the past year, impacted by slower healthcare growth and declines in the leisure and hospitality sectors.

Housing affordability was another major topic. Cowley explained that homeownership has become increasingly difficult for first-time buyers across Oklahoma in recent years.

She also highlighted inflation concerns tied to elevated customs taxes and fuel prices. Oil prices have increased amid conflict in the Middle East, though current forecasts do not suggest sustained levels high enough to trigger a major increase in drilling activity.

In agriculture, Cowley said Oklahoma farm income increased during the fourth quarter, outperforming several neighboring states due in part to stronger cattle prices.