Winchester, Virginia, is recognized for its blend of history, culture, and natural beauty, making it a popular destination for visitors and a vibrant community for its residents. Outdoor enthusiasts enjoy access to Shenandoah National Park, while history buffs can explore streets that changed hands between Union and Confederate forces during the Civil War.
The Federal Reserve Bank of Richmond has announced several key officer appointments. Jeremy Caldwell has been named group vice president for capital and quantitative supervision in Supervision, Regulation and Credit, with responsibilities at the Richmond Fed and the Federal Reserve System. Caldwell joined the Richmond Fed in 2000 and has led the capital program in the Federal Reserve’s System Large Institution Supervision Coordinating Committee since 2017. Prior to his current role, he was the central point of contact for Bank of America. Caldwell earned a bachelor’s degree...
Applications are now being accepted for the 2025 Community Investment Training program, a 16-week opportunity offered through the Federal Reserve Bank of Richmond's Rural Investment Collaborative. The training program aims to help community leaders across Maryland, North Carolina, South Carolina, Virginia, and West Virginia develop investment-ready community and economic projects in their local communities.
The Federal Reserve, the central bank of the United States, has released the minutes of the Federal Open Market Committee (FOMC) meeting held on June 11–12, 2024. The minutes were made available on Wednesday at 2:00 p.m. EDT.
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. We promote the safety and soundness of individual financial institutions and monitor their impact on the financial system as a whole, as well as ensure financial institutions are protecting consumers.
Richmond Fed President Tom Barkin is scheduled to speak at a Global Interdependence Center conference at the Banque de France on June 28, 2024, in Paris. The event is part of the Global Interdependence Center’s Central Banking Series.
U.S. companies are increasingly prioritizing automation and artificial intelligence (AI) amid persistent inflation, according to The CFO Survey, a collaboration between Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta.
The Federal Reserve Bank of Richmond recently hosted its fifth annual Investing in Rural America Conference in Roanoke, Virginia. The event aimed to foster partnerships, develop innovative programs addressing community needs, and educate and retain a talented workforce in small towns and rural areas.
The Federal Reserve has reported that the regional economy experienced modest growth in recent weeks. Consumer spending on retail, restaurants, and leisure travel increased, although new vehicle sales saw a slight decline. Import activity surged due to natural growth and cargo diverted from Baltimore. The Port of Baltimore recently opened a limited access channel allowing most container ships to enter the harbor.
The Federal Reserve Bank of Richmond announced today that Anna Kovner has been appointed as the new Director of Research. She will join the Richmond Fed's Management Committee in mid-June.
The Federal Reserve, the central bank of the United States, released the minutes of the Federal Open Market Committee (FOMC) meeting held on April 30–May 1, 2024. The minutes were made public on May 22, 2024, at 2:00 p.m. EDT.
In April, President Tom Barkin, Regional Executive Matt Martin, and Regional Economist Laura Ullrich from the Federal Reserve Bank met with local community and business leaders in North Carolina’s Surry and Yadkin counties. This visit was part of the Bank’s Community Conversations program aimed at understanding the economic strengths and opportunities facing the region.
The Community Investment Council of the Richmond Federal Reserve Bank convened on April 11–12 to discuss the bank's community development goals for the Fifth District. Leaders from Virginia, Maryland, South Carolina, North Carolina, Washington, D.C., and West Virginia gathered at the Richmond location to discuss issues and trends affecting community development across the district.
The Federal Reserve Bank of Richmond's President, Tom Barkin, recently addressed the Columbia Rotary Club, discussing the current state of the economy and his thoughts on its future trajectory.
On May 3, 2024, the Federal Reserve Bank of Richmond made significant officer appointments within the organization.Chris Andrews has been promoted to vice president of Audit with responsibility for comprehensive audit coverage of various Richmond Fed operations. Andrews, who joined the Richmond Fed in 1993 as a bank examiner, has steadily progressed within the organization, holding management roles before his recent promotion.David McClenney has also been promoted to vice president of Audit. McClenney, who joined the Richmond Fed in 2011, has served in management roles...
Federal Reserve Bank President Tom Barkin is scheduled to address the Columbia Rotary Club on May 6, 2024, in Columbia, South Carolina. The event, set to take place at Seawell's Catering, will commence at 12:50 p.m. ET and will feature a speech by Barkin, followed by an audience question and answer session.In a statement, the Federal Reserve Bank emphasized their commitment to supporting a healthy economy, stating, "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...
The Federal Reserve Bank of Richmond recently hosted a Community Bank Credit Forum, bringing together representatives from various banks to discuss crucial topics related to credit and risk management."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," stated a representative from the Federal Reserve Bank.The event saw over 40 attendees from banks across the Fifth Federal Reserve District convene to engage in discussions on credit risk...
The Federal Reserve, the central bank of the United States, released its Beige Book report on April 17, 2024, detailing economic conditions in the Fifth District. The report highlighted various trends and challenges faced by businesses and industries in the region.According to the report, consumer spending in the Fifth District was described as flat to slightly up, with mixed reports from retailers. While some shops experienced declines, others like furniture and hardware stores saw increased sales. Additionally, spending on travel increased, with hotel occupancy rising...
