Sign In
Free Newsletter
Fed’s Fifth District economy expands slightly
The economy in the Federal Reserve‘s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has expanded slightly since October, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions g[...]
Fed’s Barkin asks, ‘What’s ‘normal’ anymore?’
The question Tom Barkin is asked the most these days is when the economy will return to normal. The president and CEO of the Federal Reserve Bank of Richmond has a caution for those who may be wishing for the perceived stability of the pre-pandemic economy. “After two-and-a-half years of instability, we’re all ready to […]
Va. CEOs say labor shortages, inflation hurting business
Labor shortages and inflation are negatively impacting Virginia businesses, and expectations for sales, employment and capital spending are less positive than during the previous two quarters, according to the third quarter CEO Economic Outlook Survey by the University of Richmond‘s Robins School of Business and the Virginia Council of CEOs (VACEOs). More than 80% of […]
Richmond Fed: Va. gained 8,000 jobs in Sept.
Virginia employers added 8,000 net jobs in September, marking the first month in which total employment has exceeded pre-pandemic levels, representatives from the Federal Reserve Bank of Richmond said Friday. While that’s good news, job recovery continues to be uneven across sectors, with employment in the transportation and warehousing sector exceeding pre-pandemic levels by 10.5% […[...]
Fifth District economy growth is moderate, Fed says
The Federal Reserve‘s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) continued to grow moderately despite supply chain issues, labor shortages and rising prices, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information [...]
Fed still likely to raise rates, despite Russia-Ukraine conflict
Federal Reserve Bank of Richmond President and CEO Thomas Barkin said Thursday that he hopes to bring interest rates up to pre-pandemic levels “relatively quickly,” while noting that it’s hard to predict the future effect of the geopolitical conflict between Russia and Ukraine on the nation’s economy. Speaking at a luncheon in Colonial Heights hosted […]
Roaring ’20s repeat possible, Richmond Fed president says
Federal Reserve Bank of Richmond President and CEO Thomas Barkin said he could visualize another round of the “roaring ’20s,” he said Thursday during the Virginia Bankers Association/Virginia Chamber 2022 Financial Forecast event. Driven by investment and real estate appreciation, the nation has seen a 28% boost in household net worth over the past two […]
Fifth District economy has moderate growth, Fed says
The Federal Reserve‘s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth but was constrained by supply issues and labor shortages, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information gathered [&hellip[...]
Fed says Fifth District economy shows moderate growth
The economy has grown “moderately” in recent weeks, with strong production increases, employment rising and consumer spending up in the Federal Reserve‘s Fifth District, which includes Virginia, North Carolina, South Carolina, West Virginia and Maryland, according to the latest edition of the Fed’s Beige Book, released Wednesday. The Beige Book, which is published eight times [&hel[...]
What stays and what goes
With renewed hopes stemming from vaccine distribution, economists and business leaders are looking ahead toward recovery, including pandemic-induced changes that will stay and ways we’ll return to “normalcy.” While it’s evident that the technology sector’s upward trend will continue, Federal Reserve Bank of Richmond President and CEO Tom Barkin isn’t sure that telew[...]
