Inflation has forced us all to watch our spending and watch interest rates. The federal government has been hiking these rates to fight back against high prices, but did you know the city of Richmond plays a key role in helping the fed make that decision?

The towering silver skyscraper that is a signature feature of the downtown Richmond skyline houses the Federal Reserve Bank of Richmond, also called the Richmond Fed. It is one of only 12 in the entire country, including others in New York City, Atlanta and San Francisco.

Around 2,700 people work for the Richmond Fed, and they oversee banks from South Carolina to Maryland by lending money, distributing cash and coins and processing electronic payments. Think of it as a bank for your bank.

[ Ссылка ]

свернуть