Latest Trends in Cash and Other Consumer Payments
Speaking of the Economy
Doug Borland and Stephanie Mehlhouse share insights from the 2024 Survey and Diary of Consumer Payment Choice, which was compiled by the Federal Reserve to provide a comprehensive picture of payment preferences and behavior in the United States. Borland is assistant vice president of cash services and Mehlhouse is a senior cash manager, both based at the Charlotte office of the Federal Reserve Bank of Richmond. Full transcript and related links:
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The Role of Philanthropies in Rural Development
Speaking of the Economy
Mary Donnan and Victor Farmer discuss two projects in the Fifth District that illustrate the challenges of economic development in rural communities and the importance of philanthropic organizations in addressing those challenges. They also reflect on how the Richmond Fed's Community Investment Training program helped move the projects forward. Donnan is executive director of the Alleghany Foundation and Farmer is director of the Boone Memorial Health Community Foundation. Full transcript and related links:
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The Disconnected Youth Problem
Speaking of the Economy
Claudia Macaluso shares what she has learned about young people who are not employed, in school, or undergoing training, and what potential interventions could bring these disconnected youth into the workforce. Macaluso is a senior research economist at the Federal Reserve Bank of Richmond. Full transcript and related links:
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Are Higher Tariffs Leading to Higher Inflation?
Speaking of the Economy
Zach Edwards and Felipe Schwartzman share what they have learned about how much businesses have been passing along higher prices for their inputs — especially due to higher tariffs in 2025 — to the prices they charge their customers. They also discuss how this cost pass-through could affect overall inflation. Edwards is a research analyst and Schwartzman is a senior economist, both at the Federal Reserve Bank of Richmond. Full transcript and related links:
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The Role of Rent in Overall Inflation
Speaking of the Economy
John O'Trakoun discusses recent trends in the pricing of rental housing and what rents tell us about overall inflation as well as housing markets on the national and local levels. O'Trakoun is a senior policy economist at the Federal Reserve Bank of Richmond. Full transcript and related links:
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Why Do Banks Fail?
Speaking of the Economy
Sergio Correia discusses his research on the causes of bank failures and his use of a novel set of historical data to evaluate two different but intertwined potential causes — insolvency of the bank and a run on deposits. Correia recently joined the Federal Reserve Bank of Richmond as a senior economist. Full transcript and related links:
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Microtransit Solutions in Rural Communities
Speaking of the Economy
At the Richmond Fed's sixth annual Investing in Rural America Conference, three communities in Virginia and North Carolina shared how they have used on-demand microtransit to address the lack of public transportation options that create barriers for residents without cars. Full transcript and related links:
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What's Keeping Workers on the Sidelines?
Speaking of the Economy
Andy Bauer and John Bailey Jones discuss the factors that have shaped the demand for and supply of labor in recent years. They also talk about the barriers to labor force participation in Maryland, including lack of affordable child care and housing. Bauer is vice president and regional executive for the Baltimore branch of the Federal Reserve Bank of Richmond and Jones is vice president of microeconomic analysis. Full transcript and related links:
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Getting a Grip on U.S. Tariff Changes
Speaking of the Economy
Marina Azzimonti discusses the complexities of measuring the regional and sectoral impacts of tariffs and reviews the rapid series of changes to U.S. trade policy since the beginning of 2025. Azzimonti is a senior economist and research advisor at the Federal Reserve Bank of Richmond. Full transcript and related links:
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Affordable College, Unaffordable Housing
Speaking of the Economy
Davy Sell and Anthony Tringali discuss the housing needs of community college students and the challenges these institutions face in meeting the demand for affordable options. Sell is a research analyst and Tringali is a research associate at the Federal Reserve Bank of Richmond. Full transcript and related links:
info_outlineStephanie Norris and Matthew Wells discuss their recent research on workforce development programs at community colleges that are aimed at helping the incarcerated re-enter the workforce after they are released. Norris is a senior research analyst and Wells is a senior economics writer, both at the Federal Reserve Bank of Richmond.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2025/speaking_2025_05_07_community_colleges_incarcerated