Tom Barkin: The Road Ahead

How Does the Foreign-Born Population Affect Labor Force Growth?

Fifth District Manufacturing Activity Was Mostly Unchanged in January

"With the hiring rate low, no one wants the labor market to deteriorate much further; with inflation above target now for almost five years, no one wants higher inflation expectations to get embedded. It's a delicate balance."

Tom Barkin

Richmond Fed President

Tuning In: 2026 Outlook, Speech at the Raleigh Chamber of Commerce meeting, January 6, 2026

Events Calendar

Feb. 23, 2026

CORE Week

Richmond Office
Richmond, VA

March 4, 2026

Investing in Rural America Webinar Series: Exploring Rural Trends and Why They Matter

2 p.m. – 3 p.m.

Virtual

March 23, 2026

2026 National Community Investment Conference

Phoenix Convention Center
Phoenix, AZ

View More Events

Who We Are and What We Do

As a regional Reserve Bank, the Richmond Fed works to strengthen the economy and the Fifth District communities we serve by helping to carry out the day-to-day operations of the Fed. Here's how we do it:

Keep Cash and Payments Flowing

We help keep the country’s electronic payment system running and make sure banks have enough cash and coin to do business.

Represent the Regional Economy

We represent our region in national monetary policy discussions that aim to keep prices and employment stable.

Engage in Our Local Communities

We listen and learn from regional voices, and we provide economic education and community development resources in support of a stronger economy for all.

Contribute Specialized Knowledge

We share our unique expertise with the Federal Reserve System, like the work we do to understand and uplift the economies of rural areas and small towns.

By the Numbers

55.9%

of respondents to our December Regional Surveys of Business Activity indicated that they currently use artificial intelligence in their business operations.

See more data from our December special questions >