“When the museum opened, my colleague Angie Collier and I sent out information about the museum and made cold calls to organizations to inform them,” Cornwell said. “A lot of people didn’t know what the Federal Reserve Bank was — they get it confused with the Treasury — and people came in thinking they were going to see money being printed.”
Instead, the guided tours acquainted visitors with the Federal Reserve’s roles in setting monetary policy, supervising and regulating financial institutions, and providing payment services to banks.
With The Fed Experience turning 10 this month, the Richmond Fed’s Economic Education department is reflecting on the mission of the museum — to educate students — and the depth and breadth of guests who have experienced it — more than 52,000 students, educators, retiree groups, business and community members, and other guests from around the state, nation and even the world.
“It has been important to be open to the public and allow people to come into the building to learn more about how the Fed affects their everyday lives,” said Sarah Gunn, current Economic Education director, who helped expand an already thriving tour program for middle and high school students to include a tour focused on resume writing, networking and careers at the Federal Reserve.
“It’s one of the few times that we get to talk with students and help them understand the importance of the Bank’s role in the economy as they begin to make economic decisions for themselves,” she said.