This is Derek Miller, Speaking on Business. The Federal Reserve System conducts monetary policy through 12 regional banks, each serving a specific area. Utah is in the 12th Federal Reserve District. San Francisco Federal Reserve Vice President and Regional Executive of the Salt Lake City Branch, Abby McLennan, joins us with more.
Abby McLennan:
The Federal Reserve Bank of San Francisco serves the nine western states, including Utah, as well as two territories and a commonwealth. Together, they make up the Twelfth District – the largest District in the Federal Reserve System.
The Salt Lake City branch covers the entirety of Utah, Southern Idaho and Northeastern Nevada. We support price stability and full employment, safe banking and secure payment systems. A big part of our work is processing cash – that means ensuring currency is fit for circulation and there when you need it.
We also maintain trusted relationships with workers, businesses and community groups. The information and data we gather from local contacts helps shape monetary policy decisions and ensures the economic experiences of Utahns are represented.
Whether it is economic research or community engagement and outreach, our work at the San Francisco Fed helps support a strong economy for all Americans.
Derek Miller:
The Federal Reserve strengthens Utah’s economy by supporting stable prices, safe banking and reliable payment systems. Through local research, community engagement and outreach, they help Utah families and businesses thrive. Learn more at FRBSF.org. I’m Derek Miller, with the Salt Lake Chamber, Speaking on Business.
