Jan. 21—An Albuquerque businessman will be pulling double duty on two influential economic boards in 2025.
Del Esparza, the CEO of Esparza Digital + Advertising, was designated as chair of the Federal Reserve Bank of Kansas City, Denver Branch for 2025. He is also the chair of the Greater Albuquerque Chamber of Commerce this year.
The Denver branch represents Wyoming, Colorado and northern New Mexico. The branch is part of the 10th Federal Reserve Bank District, which is based in Kansas City.
Jeff Schmid, the president and CEO of the Federal Reserve Bank of Kansas City, will vote on the Federal Open Market Committee, which determines the rate that banks can borrow against the Fed, which correlates to consumers’ rates on real estate, car purchases and other interest rates. That committee will have its first meeting of 2025 next week.
The Denver branch meets once every six weeks to talk about the members’ local economy, issues businesses are facing and priorities. Board members will also meet in Kansas City twice per year and go to a larger branch meeting every year.
“We go around the room and we report on what our businesses are feeling and what we’ve seeing in the state,” Esparza said.
New Mexico this year will be in a unique position in its district because its state budget is growing at a quick pace because of an influx in money from oil and gas development. Meanwhile, state budgets in Colorado and Wyoming are decreasing, he said.
“That additional billion dollars (in the state’s budget) will cascade and ripple down to capital improvement projects and a number of different projects that will hopefully lift the economy of the state,” Esparza said.
Esparza said New Mexico’s economy is different from others states in the 10th District because many workers are employed by a government agency, and many of the businesses are considered small with 50 employees or less.
“They tend to be a little bit more sensitive to any discussion on tariffs or taxes,” he said. “A small business is going to feel the impact far quicker than a larger business.”
He said his work for the Albuquerque Chamber will help him on the Fed board.
“You try to surround yourself with talented individuals. And I’ve been able to do that, I have a great team that does a lot helping manage as far as digital advertising,” he said. “So … I’m able to spend time on some of these boards, giving back.”
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