Tom Barkin: Operating with Limited Data

Update on the Fed's Monetary Policy Framework

"The Center for Rural Economies represents our commitment to strengthening rural communities and economies. By centralizing our efforts, conducting rigorous research, and fostering partnerships, we're working to create lasting opportunities and build resilience across rural America."

Daniel Davis

Group Vice President for Regional Economics and Center Leadership

Federal Reserve Bank of Richmond

Learn more about the Center for Rural Economies >

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

75%

of small and mid-sized manufacturers who participated in the Richmond Fed's October Manufacturing Survey indicated that they plan to increase prices in response to tariffs, compared to 50% of large firms.