How Anecdotes Inform the Fed

The impact of on-the-ground outreach when economic data lags

The Role of Philanthropies in Rural Development

Goodfriend Memorial Lecture: Productivity and Structural Change

"When you drive in the fog, it’s hard to put your foot on the gas because you don’t know what’s around the next curve, and you don’t want to put your foot on the brakes either. So, you pull over and put on the hazards. But what I’ve been saying the last month is I think the [economic] fog is lifting."

Tom Barkin

Richmond Fed President

- Odd Lots podcast, August 25, 2025

Is the economic fog lifting? Listen now >

Events Calendar

Oct. 3, 2025

Exploring Economics: From Classroom to Career

Richmond Office
Richmond, VA

Oct. 7, 2025

2025 Cyber Risk in the Financial Sector Conference

Boston, MA

Oct. 7, 2025

The Tools Have Changed: How the Federal Reserve Conducts Monetary Policy Today

5 p.m. – 6 p.m. ET

Virtual

View More Events

Who We Are and What We Do

As a regional Reserve Bank, the Richmond Fed works to strengthen the economy and the Fifth District communities we serve by helping to carry out the day-to-day operations of the Fed. Here's how we do it:

Help Keep Banks Safe and Sound

We help make sure banks in our district follow applicable laws and regulations.

Keep Cash and Payments Flowing

We help keep the country’s electronic payment system running and make sure banks have enough cash and coin to do business.

Represent the Regional Economy

We represent our region in national monetary policy discussions that aim to keep prices and employment stable.

Engage in Our Local Communities

We listen and learn from regional voices, and we provide economic education and community development resources in support of a stronger economy for all.

Contribute Specialized Knowledge

We share our unique expertise with the Federal Reserve System, like the work we do to understand and uplift the economies of rural areas and small towns.

By the Numbers

46%

of respondents to our August business surveys reported that all or some of their imported products are currently subject to tariffs, while 45 percent of firms noted that they either do not import products from outside the country or that their imports are not subject to tariffs.

Read more results from our August surveys >