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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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Economic Research
We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

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We help ensure our financial system is operating safely and effectively, and we help support secure and efficient methods to transfer your funds through our financial system.
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We work with teachers, students and the public to enhance understanding of economics, personal finance and the Federal Reserve.

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Community Development
We work with community partners to identify and address economic challenges and opportunities in low- and moderate-income communities in the Fifth District.

Economic Brief

Economic Brief masthead

Our latest research on these topics

Monetary Policy and Inflation
Education and Labor Markets
Economic Growth and Fiscal Policy
Regional and Urban Economics
Banking and Finance

Featured

Chart of the Business Cycle

Article

Revisiting the Beveridge Curve: Why Has It Shifted so Dramatically?

October 2021, No. 21-36

By Thomas A. Lubik

The Beveridge curve — which measures the inverse relationship between the unemployment and vacancy rates — has shifted significantly outward and is much steeper than in pre-COVID times.

generic image of passport for article on immigration

Article

What Can Firm-Level Data Show about Immigration's Impact on Labor Markets?

October 2021, No. 21-35

By Nicolas Morales and Agostina Brinatti

Increasing labor competition may drive wages down, but natives and immigrants specializing in working for different firms helps offset this effect.

Monetary Policy and Inflation

Article

Chart showing inflation

October 2021, No. 21-33

John Mullin, John O'Trakoun and Pierre-Daniel G. Sarte

Inflation Expectations: Separating the Signal from the Noise

Article

Vision of an upward arrow with Ben Franklin's $100 image in background

September 2021, No. 21-30

Alexander L. Wolman

How Broad-Based Is the Recent High Inflation?

Article

Board of Governors

July 2021, No. 21-22

Alexander L. Wolman

What Does the FOMC's Shift in Fed Funds Rate Target Language Mean?

Education and Labor Markets

Article

September 2021, No. 21-28

Steven J Davis, Claudia Macaluso and Sonya Ravindranath Waddell

How Do Employers Recruit New Workers?

Article

A person online applying for unemployment compensation

August 2021, No. 21-26

Marios Karabarbounis

Unemployment Insurance: Economic Lessons from the Last Two Recessions

Article

two older people getting advice

July 2021, No. 21-23

John Bailey Jones and David A. Price

Eldernomics: A Richmond Fed Conference

Economic Growth and Fiscal Policy

Article

image depicting stores located on a busy street

October 2021, No. 21-34

Samira Gholami and Nicholas Trachter

How Do Firms Choose Where to Place Establishments?

Article

Marble doorway that reads "Federal Reserve"

September 2021, No. 21-31

Huberto M. Ennis and Jeff Huther

The Fed’s Evolving Involvement in the Repo Markets

Article

Vision of an upward arrow with Ben Franklin's $100 image in background

September 2021, No. 21-30

Alexander L. Wolman

How Broad-Based Is the Recent High Inflation?

Regional and Urban Economics

Article

September 2021, No. 21-29b

Raymond E. Owens III and Santiago Pinto

What Do Recent Studies Say About Crime and Policing? Part 2

Article

September 2021, No. 21-29a

Raymond E. Owens III and Santiago Pinto

What Do Recent Studies Say About Crime and Policing? Part 1

Article

two older people getting advice

July 2021, No. 21-23

John Bailey Jones and David A. Price

Eldernomics: A Richmond Fed Conference

Banking and Finance

Article

two elders chatting with coffee at the computer

September 2021, No. 21-32

Mariacristina De Nardi, Eric French, John Bailey Jones, Rory McGee and Tim Sablik

Why Do People Save During Retirement?

Article

Marble doorway that reads "Federal Reserve"

September 2021, No. 21-31

Huberto M. Ennis and Jeff Huther

The Fed’s Evolving Involvement in the Repo Markets

Article

woman's fingers run across a phone

June 2021, No. 21-21

Pengfei Han and Zhu Wang

Why Is the U.S. Lagging in Adopting Mobile Payments?