Aubrey George, Conner Mulloy and Sean McCrary share their experiences as research associates supporting the economists in the Research department at the Federal Reserve Bank of Richmond. George and Mulloy are completing their second year as RAs while McCrary is a Ph.D. student at the University of Pennsylvania.

Vanity McDaniel provides an update on FedNow, the first new payments platform launched by the Federal Reserve in 50 years, and why the Fed decided to facilitate real-time or "instant" payments in the financial system. McDaniel is a senior payments business advisor at the Federal Reserve Bank of Richmond.

Hugo Hopenhayn discusses his research on the factors that affect the entry and exit of firms in a market, as well as the reallocation of labor and other resources that results from this "creative destruction." Hopenhayn is a professor of economics at UCLA and a long-term consultant at the Federal Reserve Bank of Richmond.