The Fed's Regional Structure
These videos were released Oct. 20, 2014.
Unlike central banks in most other countries, the Federal Reserve System has a regional structure. There's not just one bank in a headquarters city, but 12 Reserve banks spread across the country along with the Board of Governors in D.C. The regional Reserve banks not only provide services closer to the people who need them, but these banks ensure that the concerns of the people in their districts are heard in Washington. St. Louis Fed economist and economic historian David Wheelock explains the history and benefits of this unusual structure.
Part 1: Born Out of Compromise
Part 2: Serving Main Street
Part 3: No Groupthink
Economists and other experts from the St. Louis Fed talk about their research, economics-related topics in the news and issues specifically related to the Fed. Views expressed are not necessarily those of the Federal Reserve Bank of St. Louis or of the Federal Reserve System.