Regional Matters

Rural businesses were more likely to expect significant impacts from tariffs than their urban counterparts but were less likely to report those impacts would be negative.

This post highlights the short-term and potential long-term impacts of Hurricane Helene on Western North Carolina's housing market while also exploring how pre-existing market conditions may interact with the storm's impact.

In March, we asked Fifth District businesses about the impacts of tariffs. Most expected to be impacted negatively and anticipated passing through some of the additional costs to customers.

By examining where federal spending occurs in Fifth District states, we can assess which areas could be more impacted by spending cuts.

As we gear up for the 2025 Federal Reserve CDFI Survey, this post paints a picture of the current state of CDFIs and seeks to understand what might differ from our 2023 survey results.

Farms in the Fifth District produce necessary commodities like pork, chicken, soybeans, peanuts, and cotton. That production largely occurs in rural areas, creating value and employment opportunities in those communities.

A reduction of the federal workforce will affect D.C., Maryland, and Virginia more extensively than the rest of the country, but much depends on how and where the cuts occur.

In February, we asked firms how they would react to unanticipated cost increases. Most reported that they would increase customer prices, but passing costs to customers is equally or more difficult than last year.

Fifth District businesses are concerned about tariffs, especially those that source inputs or sell outputs abroad. However, data from our December business surveys suggests little relationship between tariff concerns and firms' 2025 price and cost growth expectations.

The Richmond Fed asked Fifth District firms to gauge both their business expectations and prospects for the U.S. economy in 2025 and found that firms were significantly more optimistic than previous years.