Seeking solutions for the costs and challenges of food insecurity (The Teller Window)
The Teller Window reported on two events held by the New York Fed’s Community Development team. The events discussed the economic impacts of food insecurity, with a focus on scalable solutions. To help inform these discussions, the team analyzed Economist Impact’s Global Food Security Index (GSFI). While discussing flexibility and innovation and their importance, Rob Vos, division director of Markets, Trade, and Institutions at the International Food Policy Research Institute, said that new technologies could help mitigate the adverse effects of food shortages and inflation and that policymakers should expand investment in R&D to facilitate innovation. Panelists also stressed the importance of allowing space for and promoting flexibility in the design and administration of food and nutrition programs. As an example, they pointed to the SNAP waivers granted by the United States Department of Agriculture during the pandemic and the flexibility that they permitted.
