The Federal Reserve is a “decentralized” central bank, with both a government component — the Board of Governors in Washington, D.C. — and an independent component with 12 regional Reserve Banks spread across the country, including the Richmond Fed. Together with the Board of Governors, we’re working together to support a healthy economy.
The Richmond Fed serves the public and communities across the Fifth Federal Reserve District — including the Carolinas, Maryland, Virginia, West Virginia and our nation’s capital.
We often say that our work at the Richmond Fed impacts everyday people every day. For example, we play a role in things like ensuring ATMs have the cash you need. We also work to promote stable prices — so you can better plan for your major financial decisions — and offer programs and resources to help you learn about personal finance and how the economy works. And that’s just to name a few!
As part of the nation’s central bank, our job is to serve the American public — to serve you. The Richmond Fed is one of 12 regional Reserve Banks across the country, representing the Fifth District (the Carolinas, Maryland, Virginia, most of West Virginia and Washington, D.C.). We work together with the other regional Reserve Banks and the national Board of Governors in Washington, D.C., to achieve our public service mission of strengthening our economy and communities. We do this in a variety of ways, including:
-promoting stable prices, employment and moderate interest rates through monetary policy;
-ensuring our nation’s financial system is safe and sound and providing a secure and efficient way to transfer funds electronically; and
-connecting with our District’s community and business leaders to better understand local economic conditions and address issues facing our communities.