The Demise of the Penny
Speaking of the Economy
Zhu Wang and Russell Wong discuss the shutdown in the production of pennies in the U.S. and their research on how the penny's demise is expected to impose costs on consumers. Wang is vice president for research in financial and payments systems and Wong is a senior economist, both at the Federal Reserve Bank of Richmond. Full transcript and related links:
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Keeping Up on the Economy with Anna Kovner
Speaking of the Economy
Anna Kovner, director of research at the Federal Reserve Bank of Richmond, reviews the significant, rapid changes in trade policy, immigration policy, and the size of the federal workforce in 2025. She also discusses how the Richmond Fed has assessed the economic impact of these changes through its research and outreach programs. Full transcript and related links:
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What's the Fed Doing with its Balance Sheet Now?
Speaking of the Economy
Huberto Ennis provides an updated view of the Federal Reserve's management of its balance sheet and the flow of reserves between banks, which were the focus of a recent conference held at the Federal Reserve Bank of Richmond. Ennis is group vice president for micro, macro and financial economics at the Richmond Fed. Full transcript and related links:
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Year in Review with Tom Barkin
Speaking of the Economy
Tom Barkin, president and CEO of the Federal Reserve Bank of Richmond, looks back at 2025 and the resilience of the U.S. economy in the face of uncertainty and changes in the economy, including trade policy, consumer sentiment, and labor market demand and supply. He also discusses how monetary policymakers have navigated the year. Full transcript and related links:
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The Power of Partnerships in Western North Carolina
Speaking of the Economy
Erika Bell and Hunter Jones describe the importance of the Federal Reserve Bank of Richmond connecting with small towns and rural communities throughout the Fifth District, including those in western North Carolina recovering from Hurricane Helene. Bell is a community development regional manager and Hunter is a senior business analyst. In addition, Russ Harris of the Southwestern Commission Council of Governments and Nathan Ramsey of the Land of Sky Regional Council reflect on the value of their partnerships with the Richmond Fed and other regional organizations, both before and after the...
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Why is Geographic Mobility Declining?
Speaking of the Economy
John Bailey Jones and Urvi Neelakantan discuss the decline in the movement of workers from one place to another, and possible explanations and policy solutions for the decline. Jones is vice president of microeconomic analysis and Neelakantan is a senior policy economist, both at the Federal Reserve Bank of Richmond. Full transcript and related links:
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Update on the Fed's Framework
Speaking of the Economy
Alexander Wolman discusses the Federal Reserve's recent unveiling of its revised Statement of Policy Goals, highlighting what has changed and what has remained consistent with past statements. Wolman is vice president for monetary and macroeconomic research at the Federal Reserve Bank of Richmond. Full transcript and related links:
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Understanding Rural Economies
Speaking of the Economy
Daniel Davis talks about the importance of understanding the economies of small towns and rural areas. He also discusses the work that the Federal Reserve Bank of Richmond has done to examine these economies and connect with community leaders, including the recent launch of the Richmond Fed's Center for Rural Economies and Investing in Rural America webinar series. Davis is group vice president for regional economics at the Richmond Fed and director of the center. Full transcript and related links:
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What Businesses Are Saying
Speaking of the Economy
Andy Bauer, Renee Haltom, and Matt Martin share what they are hearing about economic conditions from their business contacts in the Fifth District. They also discuss variations in conditions by sector and region as well as how businesses currently view labor markets and price levels. Bauer, Haltom, and Martin are regional executives at the Federal Reserve Bank of Richmond. Full transcript and related links:
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Taking Stock of Community Development Financial Institutions
Speaking of the Economy
Surekha Carpenter and Taylor Pessin share their initial learnings about community development financial institutions that responded to the 2025 CDFI Survey, which is conducted every other year by the Federal Reserve. Carpenter is a senior research analyst and Pessin is an intermediate research analyst, both on the Regional and Community Analysis team at the Federal Reserve Bank of Richmond. Full transcript and related links:
info_outlineAt the Richmond Fed's sixth annual Investing in Rural America Conference, childcare providers and experts shared the challenges of providing affordable, quality early care and education in rural communities, as well as solutions they have developed.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2025/speaking_2025_06_11_rural_childcare