The Federal Reserve Bank of Richmond today unveiled The Fed Experience, an interactive, multimedia exhibit designed to bring the economy to life. Featuring real-life stories from Federal Reserve employees, their families and people in communities the Richmond Fed serves, the exhibit helps visitors understand how stable prices over time affect living standards.
The Fed Experience offers an inviting space for the Richmond Fed to provide economic education and build understanding between the Fed's role in the economy and the choices people make in "Main Street" America — from a student deciding to save his allowance to an entrepreneur deciding to start her own business. The exhibit, which replaces the Richmond Fed's former Money Museum, opens to the public July 13.
"We all make choices every day," said Richmond Fed President Jeffrey M. Lacker. "Some of those choices are small, such as what movie to go see, and others are bigger, such as what college to attend.
"These individual choices are the essence of our economy," Lacker said. "The Fed Experience is designed to let visitors understand how their decisions contribute to a healthy, growing economy. We hope this exhibit enhances financial literacy and gives visitors a better understanding of how the Federal Reserve works on behalf of the American people."
The Fed Experience has appeal for visitors of all ages and is especially useful for middle-school students because of its connection to Virginia's Standards of Learning. The material also aligns with national learning standards and can be an online resource for schools. The website www.thefedexperience.org provides classroom tools for teachers beyond Richmond.
There is no charge to visit The Fed Experience. The exhibit is open weekdays from 9 a.m. until 4 p.m., except on federal holidays. Visitors are encouraged to register in advance and groups of six or more are required to sign up before visiting. More information about visiting, including parking options, is available at www.thefedexperience.org.
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.