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WSB Features the Atlanta Fed

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Learn the “Secrets of Atlanta’s Federal Reserve” this Sunday, May 24, at 7 p.m. (ET) on WSB-TV, the WSB Now stream, or the WSB News mobile app.

Federal Reserve Bank of Atlanta
Federal Reserve Bank of Atlanta

The Federal Reserve Bank of Atlanta, (informally referred to as the Atlanta Fed and the Bank), is the sixth district of the 12 Federal Reserve Banks of the United States and is headquartered in midtown Atlanta, Georgia.

The Atlanta Fed covers the U.S. states of Alabama, Florida, and Georgia, the eastern two-thirds of Tennessee, the southern portion of Louisiana, and southern Mississippi as part of the Federal Reserve System.1 Along with its Atlanta headquarters, the Banks operates five branches with the sixth district, which are located in Birmingham, Jacksonville, Miami, Nashville, and New Orleans. These branches provide cash to banks, savings and loans, and other depository institutions; transfer money electronically; and clear millions of checks.2

In addition to supporting the U.S. financial system, the Atlanta Fed carries out the supervision and regulation of the banks operating within the sixth district. It also is a source of research and expertise for public and private decision makers within the district. In recent years, researchers within the Atlanta Fed have innovated new tools to gauge the health of the macro U.S. economy, the two most notable are GDPNow3 and Wage Growth Tracker.4

The Atlanta Fed is currently led by Dr. Raphael Bostic, who was appointed in 20175 and is member of the Federal Open Market Committee (FOMC), the committee that makes key decisions about interest rates and the growth of the United States money supply.

References

  1.  “Federal Reserve Bank Presidents: Dennis P. Lockhart”. Board of Governors of the Federal Reserve System. January 28, 2009. Retrieved February 19, 2009.
  2. “Branches”. Federal Reserve Bank of Atlanta. Archived from the original on January 22, 2009. Retrieved February 19, 2009.
  3. “GDPNow”. www.frbatlanta.org.
  4. “Wage Growth Tracker”. www.frbatlanta.org.
  5. “Atlanta Fed Names Bostic New President and Chief Executive Officer”. FRB Atlanta. Retrieved July 23, 2017.

Source: Wikipedia contributors, “Federal Reserve Bank of Atlanta,” Wikipedia, The Free Encyclopedia, https://en.wikipedia.org/w/index.php?title=Federal_Reserve_Bank_of_Atlanta&oldid=956224220 (accessed May 22, 2020).

Image Source: Wikimedia Commons contributors, “File:FedReserve Atlanta.jpg,” Wikimedia Commons, the free media repository, https://commons.wikimedia.org/w/index.php?title=File:FedReserve_Atlanta.jpg&oldid=148162233 (accessed May 22, 2020).