Virginia

Virginia (ⁱ/vərˈdʒɪnjə/ vər-JIN-yə, UK /vərˈdʒɪniə/ vər-JIN-ee-ə), officially the Commonwealth of Virginia, is a state located in the South Atlantic region of the United States. Virginia is nicknamed the "Old Dominion" due to its status as the first colonial possession established in mainland British America, and "Mother of Presidents" because eight U.S. presidents were born there, more than any other state. The geography and climate of the Commonwealth are shaped by the Blue Ridge Mountains and the Chesapeake Bay, which provide habitat for much of its flora and fauna. The capital of the Commonwealth is Richmond; Virginia Beach is the most populous city, and Fairfax County is the most populous political subdivision. The Commonwealth's estimated population as of 2014 is over 8.3 million.

The area's history begins with several indigenous groups, including the Powhatan. In 1607 the London Company established the Colony of Virginia as the first permanent New World English colony. Slave labor and the land acquired from displaced Native American tribes each played a significant role in the colony's early politics and plantation economy. Virginia was one of the 13 Colonies in the American Revolution and joined the Confederacy in the American Civil War, during which Richmond was made the Confederate capital and Virginia's northwestern counties seceded to form the state of West Virginia. Although the Commonwealth was under one-party rule for nearly a century following Reconstruction, both major national parties are competitive in modern Virginia.

Richmond

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Richmond, Virginia

Richmond (/ˈrɪtʃmənd/ RICH-mənd) is the capital of the Commonwealth of Virginia, in the United States. It is the center of the Richmond Metropolitan Statistical Area (MSA) and the Greater Richmond Region. While it was incorporated in 1742, Richmond has been an independent city since 1871.

As of the 2010 census, the population was 204,214; in 2014, the population was estimated to be 217,853, the fourth-most populous city in Virginia. The Richmond Metropolitan Area has a population of 1,260,029, the third-most populous metro in the state.

Richmond is located at the fall line of the James River, 44 miles (71 km) west of Williamsburg, 66 miles (106 km) east of Charlottesville, and 98 miles (158 km) south of Washington, D.C. Surrounded by Henrico and Chesterfield counties, the city is located at the intersections of Interstate 95 and Interstate 64, and encircled by Interstate 295 and Virginia State Route 288. Major suburbs include Midlothian to the southwest, Glen Allen to the north and west, Short Pump to the west and Mechanicsville to the northeast.

United States

Coordinates: 40°N 100°W / 40°N 100°W / 40; -100

The United States of America (USA), commonly referred to as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major territories and various possessions. The 48 contiguous states and Washington, D.C., are in central North America between Canada and Mexico. The state of Alaska is in the northwestern part of North America and the state of Hawaii is an archipelago in the mid-Pacific. The territories are scattered about the Pacific Ocean and the Caribbean Sea. At 3.8 million square miles (9.842 million km²) and with over 320 million people, the country is the world's third or fourth-largest by total area and the third most populous. It is one of the world's most ethnically diverse and multicultural nations, the product of large-scale immigration from many countries. The geography and climate of the United States are also extremely diverse, and the country is home to a wide variety of wildlife.

Federal Reserve System

The Federal Reserve System‍—‌also known as the Federal Reserve or simply as the Fed‍—‌is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded, and its structure has evolved. Events such as the Great Depression in the 1930s were major factors leading to changes in the system.

The U.S. Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the years, and as of 2009 also include supervising and regulating banks, maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions. The Fed conducts research into the economy and releases numerous publications, such as the Beige Book.