About Us

2008

 

October 29, 2008

FOMC Statement

The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 1 percent.

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The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.

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Contact Us

Richmond

Jim Strader
(804) 697-8956
(804) 332-0207 (mobile)