Press Releases

2014
1
Handshake

Feb. 3, 2014

Richmond Fed Announces Officer Appointments

The Federal Reserve Bank of Richmond appointed Sandra L. Tormoen as community affairs officer and Jeffrey R. Gerlach as an assistant vice president.

2013
53
EF Q3 2013 Cover

Dec. 20, 2013

Richmond Fed Magazine Econ Focus Reports on Economic Research About the College Decision

College is becoming scarier, financially speaking: The cost of college has been growing more than twice as fast as inflation. Delinquency rates on student loans have jumped, a sign of struggle for some grads. But at the same time, the extra earnings that come with a college degree have been growing too. Should more students – or fewer — be signing on the dotted line for college? The cover story in the latest issue of Econ Focus looks at these and other questions about investing in higher education.

Economic Quarterly

Dec. 20, 2013

Richmond Fed's Economic Quarterly Explores Developments in the Labor Market

Unemployment and labor force participation (LFP) are usually negatively correlated over the business cycle -- that is, once the unemployment rate starts to decline the LFP rate starts to increase after about half a year. In the latest issue of Economic Quarterly, Richmond Fed senior advisor Andreas Hornstein shows that this cyclical co-movement pattern between the unemployment rate and the LFP rate can be attributed to two factors.

Board of Governors building

Dec. 18, 2013

FOMC Action

The FOMC voted Wednesday to reduce its monthly purchases of Treasury and agency mortgage-backed securities starting in January and to keep the federal funds rate low.

Dec. 6, 2013

Federal Reserve launches History Web Gateway

The Federal Reserve on Friday launched the History Web Gateway, a new online resource with biographies, images, and essays on key events in the Fed's 100-year history. The gateway is part of the Fed's effort during its centennial year to encourage a deeper reflection on its role in the nation's economy.

Beige book cover

Dec. 4, 2013

Beige Book

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

Board of Governors building

Nov. 20, 2013

Minutes of the Federal Open Market Committee, October 29-30, 2013

The Federal Reserve Board and the Federal Open Market Committee released the minutes of the Committee meeting held on October 29-30, 2013.

College Fed Challenge Winners from James Madison University

Nov. 19, 2013

James Madison University Wins College Fed Challenge Round

James Madison University students win district finals of College Fed Challenge sponsored by the Federal Reserve Bank of Richmond.

Clapping

Nov. 6, 2013

Richmond Fed Announces Winners of College Fed Challenge Preliminary Rounds

Teams from James Madison University, American University and Elon University won preliminary rounds of the College Fed Challenge Competition held by the Federal Reserve Bank of Richmond. The teams will compete for the Fifth District championship on November 15.

Handshake

Oct. 30, 2013

Fifth Federal Reserve District Directors Elected

The Fifth Federal Reserve District member banks elected directors of the Federal Reserve Bank of Richmond for three-year terms effective January 1, 2014.

Board of Governors building

Oct. 30, 2013

FOMC Action

The Federal Open Market Committee voted Wednesday to continue its purchases of Treasury and agency mortgage-backed securities and to keep the federal funds rate low.

Beige book cover

Oct. 16, 2013

Beige Book

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

Handshake

Sept. 26, 2013

Fifth Federal Reserve District Director Appointed

The Federal Reserve Board of Governors made the following appointment to the Federal Reserve Bank of Richmond’s Board of Directors, effective September 11, 2013.

Board of Governors building

Sept. 18, 2013

FOMC Action

The FOMC voted Wednesday to continue its purchases of Treasury and agency mortgage-backed securities and to keep the federal funds rate low.

Sept. 10, 2013

Federal Reserve Banks Solicit Input on Improving the Future U.S. Payment System

The Federal Reserve Banks today announced the publication of their “Payment System Improvement – Public Consultation Paper” and an opportunity to provide input on the information, ideas and concepts in the document.

Beige book cover

Sept. 4, 2013

Beige Book

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

Board of Governors building

Aug. 21, 2013

Minutes of the Federal Open Market Committee, July 30-31, 2013

The Federal Reserve Board and the Federal Open Market Committee released the minutes of the Committee meeting held on July 30-31, 2013.

EF Q2 2013 Cover

Aug. 15, 2013

Richmond Fed Magazine Econ Focus Reports on the Debate Over Chinese Currency Policy

Many economists and policymakers believe that China keeps its currency artificially cheap to help its export industries. But there is much less agreement on how the policy affects the United States. If China's currency policy has hurt U.S. exporters, it has also benefited our consumers. Moreover, with a more expensive Chinese currency, would we simply import from other low-cost producers instead? And is China's currency, in fact, still substantially undervalued? The cover story in the latest issue of Econ Focus (formerly Region Focus) looks at these and other questions about currency manipulation.

Economic Quarterly

Aug. 8, 2013

Richmond Fed's Economic Quarterly Considers Net Asset Values for Money Market Funds

The instability of money market mutual funds is a subject of active debate. In the latest issue of Economic Quarterly, Richmond Fed economist Huberto M. Ennis explores a new regulatory framework that is likely to be implemented soon in the United States. The design of such a framework should depend on an assessment of which is the main economic function fulfilled by these funds. If money funds are providing maturity transformation, then redemption values that permanently reflect the market value of assets may be hard to compute and may undermine the purpose of the funds. If funds are mainly investment managers, then market-based redemption values can be appropriate and increase the stability of the funds.

Board of Governors building

July 31, 2013

FOMC Action

The FOMC voted Wednesday to continue its purchases of Treasury and agency mortgage-backed securities and to keep the federal funds rate low.

Handshake

July 29, 2013

Richmond Fed Announces Officer Appointment

The Federal Reserve Bank of Richmond announces the appointment of Christopher J. Palumbo as assistant vice president.

Beige book cover

July 17, 2013

Beige Book

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

Home for Sale

July 10, 2013

Richmond Fed Survey of Virginia Realtors Shows Housing Market Improvements

About 70 percent of Virginia Realtors say that housing market conditions were slightly or significantly better in the first quarter of this year, according to a survey released by the Federal Reserve Bank of Richmond.

Board of Governors building

June 19, 2013

FOMC Action

The Federal Open Market Committee voted 10-2 to continue its purchases of Treasury and agency mortgage-backed securities and to keep the federal funds rate low.

Photo of John Weinberg

June 12, 2013

Richmond Fed's Research Director Tapped for Virginia Early Childhood Foundation Board

John Weinberg, senior vice president and director of research for the Federal Reserve Bank of Richmond, will serve a three-year term on the Virginia Early Childhood Foundation’s board of directors. Weinberg offers his voice and perspectives on early childhood education and its role in enhancing the economic vitality of communities.

Beige book cover

June 5, 2013

Beige Book

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

Handshake

May 30, 2013

Richmond Fed Announces Officer Appointment

The Federal Reserve Bank of Richmond announces the appointment of James Trotta as assistant vice president.

Cover of Annual report 2012

May 24, 2013

Richmond Fed's Annual Report Asks, "Is America the Land of Opportunity?"

The Federal Reserve Bank of Richmond today released its 2012 Annual Report, which features the essay, "Land of Opportunity? Economic Mobility in the United States."

Economic Quarterly

May 8, 2013

Richmond Fed's Economic Quarterly Explores Interchange Fee Regulations and the Durbin Amendment

The debit card interchange fee regulation introduced by the Durbin Amendment to the Dodd-Frank Act went into effect in October 2011. The regulation limits the maximum permissible interchange fee that a covered issuer can collect from merchants for a debit card transaction. In this issue of Economic Quarterly, Richmond Fed economist Zhu Wang reviews the regulation's first-year impact on different players in the debit card market.

EF Q2 2013 Cover

May 3, 2013

Richmond Fed Magazine Econ Focus, Formerly Region Focus, Reports on Measuring Poverty in America

Many economists and policymakers believe that China keeps its currency artificially cheap to help its export industries. But there is much less agreement on how the policy affects the United States. If China's currency policy has hurt U.S. exporters, it has also benefited our consumers. Moreover, with a more expensive Chinese currency, would we simply import from other low-cost producers instead? And is China's currency, in fact, still substantially undervalued? The cover story in the latest issue of Econ Focus (formerly Region Focus) looks at these and other questions about currency manipulation.

Board of Governors building

May 1, 2013

FOMC Action

The Federal Open Market Committee voted to continue its purchases of Treasury and agency mortgage-backed securities and to keep the federal funds rate low.

Photo of Mark Mullinix

April 25, 2013

Federal Reserve Bank of Richmond Announces New Chief Operating Officer Mark Mullinix

The Federal Reserve Bank of Richmond has announced that Mark L. Mullinix is the organization's newly-named first vice president and chief operating officer. Mullinix will oversee the financial services and support areas of the Bank's Fifth District operations beginning June 1, 2013. In this role, he will work with the Bank's leadership in setting strategic vision and business objectives and will work with other first vice presidents within the Federal Reserve System to lead operational strategy and policy. Mullinix succeeds Sally Green, who is retiring in May 2013, after an impressive Federal Reserve System career that has spanned more than 35 years.

April 24, 2013

New $100 Note Scheduled Release

The Board of Governors announced the new day of issue for the redesigned $100 note will be October 8, 2013.

Beige book cover

April 17, 2013

Beige Book

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

Board of Governors building

April 10, 2013

Minutes of the Federal Open Market Committee, March 19-20, 2013

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the minutes of the Committee meeting held on March 19-20, 2013.

Photo of John Weinberg

March 27, 2013

Federal Reserve Board Begins 2013 Survey of Consumer Finances

John Weinberg, senior vice president and director of research for the Federal Reserve Bank of Richmond, will serve a three-year term on the Virginia Early Childhood Foundation’s board of directors. Weinberg offers his voice and perspectives on early childhood education and its role in enhancing the economic vitality of communities.

March 25, 2013

Richmond Fed Announces Online Help for Major Financial Decisions

Do you or someone you know have a major financial decision to make, such as paying for college, buying a home or planning for retirement? Then be sure to visit majorfinancialdecisions.org, a new website launched by the Federal Reserve Bank of Richmond.

Handshake

March 25, 2013

Richmond Fed Announces Officer Appointment

The Federal Reserve Bank of Richmond announces the appointment of Brent Stanton as assistant vice president.

Handshake

March 20, 2013

Richmond Fed's Anti-Money Laundering Work Recognized

A professional organization formed with the support of the Federal Reserve Bank of Richmond has won a national award for its work addressing money laundering and other financial crimes.

March 20, 2013

Richmond Fed Names 2013 Community Investment Council New Members

The Federal Reserve Bank of Richmond has named four new members to its Community Investment Council.

Board of Governors building

March 20, 2013

FOMC Action

The Federal Open Market Committee voted to continue its purchases of Treasury and agency mortgage-backed securities and to keep the federal funds rate low.

Board of Governors building

March 15, 2013

Federal Reserve System Publishes Annual Financial Statements

The Federal Reserve System on Tuesday released the 2012 combined annual comparative financial statements for the Federal Reserve Banks, as well as for the 12 individual Federal Reserve Banks, the limited liability companies (LLCs) that were created to respond to strains in financial markets, and the Board of Governors. These financial statements are audited annually by an independent auditing firm.

Beige book cover

March 6, 2013

Beige Book

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

Board of Governors building

Feb. 20, 2013

Minutes of the Federal Open Market Committee, January 29-30, 2013

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the minutes of the Committee meeting held on January 29-30, 2013.

Townhouses

Feb. 15, 2013

Richmond Fed Announces Advisory Council Appointments

The Federal Reserve Bank of Richmond today announced the appointment of two members to its Community Depository Institutions Advisory Council.

Board of Governors building

Jan. 30, 2013

FOMC Action

In its first meeting of the year, the Federal Open Market Committee voted to continue its purchases of Treasury and agency mortgage-backed securities and to keep the federal funds rate exceptionally low.

Photograph of First Vice President Sally Green

Jan. 29, 2013

Op-Ed: Early Investment in Child Development Helps Kids and Commonwealth

Richmond Fed Chief Operating Officer Sally Green wrote about the benefits of early childhood education in an op-ed appearing in the Richmond Times-Dispatch.

Jan. 23, 2013

Fifth Federal Reserve Branch Directors Elect Chairmen

The boards of directors of the Federal Reserve Bank of Richmond’s Baltimore and Charlotte offices elected the following as chairmen for one-year terms, effective Jan. 1, 2013.

Handshake

Jan. 23, 2013

Fifth Federal Reserve District Board Chair and Deputy Chair Appointed

The Board of Governors of the Federal Reserve System has appointed the chair and deputy chair of the Board of Directors for the Federal Reserve Bank of Richmond for 2013.

Handshake

Jan. 23, 2013

Fifth Federal Reserve District Office Directors Appointed

The Federal Reserve Board of Governors and the Federal Reserve Bank of Richmond board of directors appointed directors for the Baltimore and Charlotte offices, effective Jan. 1, 2013.

Photograph of First Vice President Sally Green

Jan. 23, 2013

Richmond Fed Announces Retirement of Chief Operating Officer Sally Green

The Federal Reserve Bank of Richmond announced that its first vice president and chief operating officer, Sally Green, will retire in May 2013, after a career spanning over 35 years with the Federal Reserve System.

Photo of German publication with article on President Jeffrey Lacker

Jan. 22, 2013

Lacker Featured in German Financial Newspaper Handelsblatt

Richmond Fed President Jeffrey Lacker met with Handelsblatt reporter Rolf Benders to discuss monetary policy, the economy and the unique features of our nation’s central bank.

Handshake

Jan. 22, 2013

Richmond Fed Announces Officer Appointment

The Federal Reserve Bank of Richmond announces officer appointment.

Beige book cover

Jan. 16, 2013

Beige Book

The "Beige Book" report is published eight times per year and consists of anecdotal information on current economic conditions from each Federal Reserve.

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Richmond

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

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(804) 697-8196
(804) 698-0927 (mobile)