Federal Reserve Bank of Richmond

Federal Reserve Bank of Richmond

The Challenges and Opportunities of Rural Economic Development

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How Have Fuel Prices Changed for Fifth District Consumers?

Interview with Christiane Baumeister

Is the US Economy K-Shaped? Evidence From the Past Three Decades

"What strikes me about rural economic development barriers is that they're often the same challenges you see in urban areas: workforce shortages, housing affordability, child care access, and infrastructure gaps. The difference isn't the nature of the problem; it's the resources and organizational capacity available to address it."

Daniel Davis

Group Vice President for Regional Economics

Speaking of the Economy Podcast, The Challenges and Opportunities of Rural Economic Development, July 15, 2026

Listen to the episode >

Events Calendar

Aug. 11, 2026

District Dialogues: Strengthening Rural Economies: The Role of Health

2:30 p.m. – 5 p.m. ET

University of Charleston
Charleston, WV and Virtual

Sept. 30, 2026

2026 Investing in Rural America Conference

Omni Grove Park Inn
Asheville, NC

Nov. 5 – 6, 2026

The CFO Summit

Charlotte Branch
Charlotte, NC

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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:

Help Keep Banks Safe and Sound

We help make sure banks in our district follow applicable laws and regulations.

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

60.6

was the average rating from CFOs when asked between May 18 and June 5 to rate their optimism about the overall U.S. economy on a scale from 0 to 100, falling slightly from 61.7 in the first quarter of 2026.

See results from the latest CFO Survey >