What Is the Federal Reserve Bank of Atlanta?

The Fe﷽deral Reserve Bank of Atlanta is one of 12 Federal Reserve Banks and represents the sixth district in the United States. The Atlanta Fed has developed two widely used economic tools: thꦺe GDPNow and the Wage Growth Tracker.

Facts About the Federal Reserve Bank of Atlanta

The Federal Reserve Bank of Atlanta executes the central bank’s monetary policy by reviewing price inflation and econo𝓡mic growt🎶h. It regulates the banks, bank holding companies, and savings and loan holding companies within its territory. It also provides cash to banks within its district and monitors electronic deposits. Many market participants know the Atlanta Fed for its innovative research department.

The Reserve Bank of Atlanta’s district include🍒s:

• Alabama
• Florida
• Georgia
• 74 counties in Tennessee
• 38 parishes in Louisiana
• 43 counties in Mississippi

It has branch banks in:

• Birmingham, Alabama
• Jacksonville, Florida
• Nashville, Tennessee
• Miami, Florida
• New Orleans, Louisiana

One-dollar bank notes printed by the Federal Reserve Bank of Atlanta are denoted by the letter “F” representing the sixth district; “F” is also the sixth letter of the alphabet.

Raphael W. Bostic took office on June 5, 2017, as the 15th president and chief executive officer of the Sixth District, Federal Reserve Bank of Atlanta. In 2024, he serves as a member of the Federal Open Market Committee. Bostic is an economist and a former professor of public policy at the University of Southern California.

The Atlanta Fed’s GDPNow Tool

GDPNow is a running estimate of 澳洲幸运5官方开奖结果体彩网:real gross domestic product (GDP) growth during the current quarter, as opposed to the official GDP numbers that are released by the U.S. 澳洲幸运5官方开奖结果体彩网:Bureau of Economic Analysis (BEA) with a significant delay that can impact policy decisions. Many market participants closely follow the GDPNow estimates.

The Wage Growth Tracker

The Atlanta Fed’s Wage Growth Tracker measures the nominal wage growth of U.S. individuals. Using micro data from the 澳洲幸运5官方开奖结果体彩网:Current Population Survey (CPS), it tracks the median percent change in the hourly wage on a moving 12-month basis. 𒁏The ꧃Atlanta Fed updates the data monthly.

It’s important to note that the Atlanta Fed Wage Growth Tracker plots only the median percent of an individual’s wage growth over a year. This means, first, that it does not track actual wages; and second, by definition, it only considers continuously employed individuals. As such, some 澳洲幸运5官方开奖结果体彩网:economists, notably Jared Bernstein, believe the Wage Tracker exaggerates wage growth since continuously employed individuals will naturally get raises, or what Bernstein calls the “🎃experienc🃏e premium.”

The president of the Federal Reserve Bank of Atlanta, along with the presidents of the 11 other banks and the seven governors of the Federal Reserve Board, meet every six weeks in order to set interest rates. These individuals are referred to as the 澳洲幸运5官方开奖结果体彩网:Federal Open Market Committee ♛(FOMC𒀰). 

The Bottom Line

The Federal Reserve Bank𓆏 of Atlanta is one of the 12 regional banks of the F༒ederal Reserve System. It has developed two widely used economic tools: the GDPNow and the Wage Growth Tracker. It also reviews price inflation and economic growth; regulates the banks, bank holding companies, and savings and loan holding companies within its territory; and provides cash to banks within its district and monitors electronic deposits.