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We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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Econ Focus

EF cover

Fourth Quarter 2021

In this issue: the COVID-19 startup boom, inflation forecasting, alternatives to college, crime trends in the Fifth District, and more.

Cover Story

Illustration of lightbulb with different graphics drawn inside to indicate ideas

A Pandemic-Era Startup Boom

A surge of interest in starting new businesses could reverse a long-running drought.

President's Message

Thomas I. Barkin

Challenges of Forward Guidance

For the Fed, good communication is an important tool

Features

Students with backpacks on walking through hallway together

An Evolving Role for College

Will four-year degrees become less of a gateway for high-paying jobs? Should they?

Sections

Edward Glaeser

Harvard University economist on urbanization, the future of small towns, and "Yes In My Back Yard."

Economic History

Genghis Khan

Genghis Khan, Trade Warrior

His Pax Mongolica connected Europe and China, leading to exchanges of technology and culture.

Federal Reserve

Forecasting Inflation

Opinion

Where Did the Workers Go?

District Digest

Trends in Criminal Activity, Crime Reporting, and Public Perceptions

Upfront

New from the Richmond Fed's Regional Matters blog

Policy Update

Paycheck Protection and the Pandemic

At the Richmond Fed

Rural America Week

Research Spotlight

When Will Firms Issue Digital Currencies?

Book Review

An Economist's Green New Deal

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