The Federal Reserve Bank of Kansas City is located in

Kansas City, Missouri Kansas City, Missouri, abbreviated KC or KCMO, is the largest city in the U.S. state of Missouri by List of cities in Missouri, population and area. The city lies within Jackson County, Missouri, Jackson, Clay County, Missouri, Clay, and Pl ...

, and covers the 10th District of the

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply 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, after a series of ...

, which includes

Colorado Colorado is a U.S. state, state in the Western United States. It is one of the Mountain states, sharing the Four Corners region with Arizona, New Mexico, and Utah. It is also bordered by Wyoming to the north, Nebraska to the northeast, Kansas ...

Kansas Kansas ( ) is a landlocked U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Nebraska to the north; Missouri to the east; Oklahoma to the south; and Colorado to the west. Kansas is named a ...

Nebraska Nebraska ( ) is a landlocked U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders South Dakota to the north; Iowa to the east and Missouri to the southeast, both across the Missouri River; Ka ...

Oklahoma Oklahoma ( ; Choctaw language, Choctaw: , ) is a landlocked U.S. state, state in the South Central United States, South Central region of the United States. It borders Texas to the south and west, Kansas to the north, Missouri to the northea ...

Wyoming Wyoming ( ) is a landlocked U.S. state, state in the Mountain states, Mountain West subregion of the Western United States, Western United States. It borders Montana to the north and northwest, South Dakota and Nebraska to the east, Idaho t ...

, and portions of western

Missouri Missouri (''see #Etymology and pronunciation, pronunciation'') is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Ranking List of U.S. states and territories by area, 21st in land area, it border ...

and northern

New Mexico New Mexico is a state in the Southwestern United States, Southwestern region of the United States. It is one of the Mountain States of the southern Rocky Mountains, sharing the Four Corners region with Utah, Colorado, and Arizona. It also ...

. It is second only to the

Federal Reserve Bank of San Francisco The Federal Reserve Bank of San Francisco (informally referred to as the San Francisco Fed) is the Federal Reserve, federal bank for the twelfth district in the United States. The twelfth district is made up of nine western U.S. state, states— ...

in size of geographic area served. Missouri is the only state with two main Federal Reserve Banks; the other is located in St. Louis.

Federal Reserve Notes Federal Reserve Notes are the currently issued banknotes of the United States dollar. The United States Bureau of Engraving and Printing produces the notes under the authority of the Federal Reserve Act of 1913 and issues them to the Federal ...

issued by the bank are identified by "J" on the face of one and two dollar bills and the J10 on the face of other currency.

Headquarters buildings

The bank first occupied the R.A. Long Building at 928 Grand in

Downtown Kansas City Downtown Kansas City is the central business district (CBD) of Kansas City, Missouri and the Kansas City metropolitan area which contains 3.8% of the area's employment. It is between the Missouri River in the north, to 31st Street in the south; ...

, which opened on November 16, 1914. It then moved across the street once a new $4.3 million building was constructed at

925 Grand 925 Grand is the former headquarters of the Federal Reserve Bank of Kansas City (Kansas City Fed). It was the oldest Federal Reserve Bank building in active use until 2008, when the Kansas City Fed moved out. It was added to the National Regist ...

, which formally opened in November 1921. Shortly after it was established, the bank rented space to outside tenants. President

Harry S. Truman Harry S. Truman (May 8, 1884December 26, 1972) was the 33rd president of the United States, serving from 1945 to 1953. As the 34th vice president in 1945, he assumed the presidency upon the death of Franklin D. Roosevelt that year. Subsequen ...

had his office in Room 1107 of the building from when he left the Presidency in 1953 until the

Truman Library The Harry S. Truman Presidential Library and Museum is the presidential library and resting place of Harry S Truman, the 33rd president of the United States (1945–1953), his wife Bess and daughter Margaret, and is located on U.S. Highw ...

was completed in 1957. In 2002, the bank announced plans to build a new facility at

1 Memorial Drive 1 Memorial Drive serves as the headquarters complex of the Federal Reserve Bank of Kansas City. Situated within Penn Valley Park, the complex lies across from the Liberty Memorial on the former site of St. Mary's Hospital—where Jo Zach Mill ...

20 blocks south at 29th and Main on on a hilltop south of the

Liberty Memorial The National World War I Museum and Memorial in Kansas City, Missouri was opened in 1926 as the Liberty Memorial. In 2004, it was designated by the United States Congress as the country's official war memorial and museum dedicated to World Wa ...

. The historic 925 Grand Building was the oldest building of any Federal Reserve Bank operating at that time. It was sold to Townsend LLC in March 2005 and the Reserve leased back the structure until the new building opened in spring 2008.Federal Reserve Bank of Kansas City Announces Sale of Headquarters Building - March 15, 2005 - Official Press Release
It was designed by Henry N. Cobb of

Pei Cobb Freed & Partners Pei Cobb Freed & Partners is an American architectural firm based in New York City, founded in 1955 by I. M. Pei and other associates.

Economic policy symposium

Since 1978, the Kansas City Fed has held an annual economic policy symposium. From 1978–1981, it was held at different locations, and from 1982 it has been held in

Jackson Hole Jackson Hole (originally called Jackson's Hole by mountain men) is a valley between the Gros Ventre Range, Gros Ventre and Teton Range, Teton mountain ranges in the U.S. state of Wyoming, near the border with Idaho, in Teton County, Wyoming, T ...

, Wyoming. From 1978 to 1981 the symposia focused on agricultural economic issues. Since 1981 topics have been more broad and the symposia have gotten broader attention. In 2003 and 2005, papers were presented at the symposium that were critical of the status quo, and predicted problems with the unseen risks of derivatives. These ideas in these papers were rejected at the time, but later were seen as having predicted the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

Jackson Hole Consensus

The 2014 edition of the symposium was widely anticipated. Featuring a speech by

European Central Bank The European Central Bank (ECB) is the central component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International ...

president

Mario Draghi Mario Draghi (; born 3 September 1947) is an Italian politician, economist, academic, banker, statesman, and civil servant, who served as the prime minister of Italy from 13 February 2021 to 22 October 2022. Prior to his appointment as prime mi ...

, it was depicted as the point of emergence of a new consensus in the economics doctrine and institutions, stressing the importance of

aggregate demand In economics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time. It is often called effective demand, though at other times this term is distinguished. This is the ...

countercyclical Procyclical and countercyclical variables are variables that fluctuate in a way that is positively or negatively correlated with business cycle fluctuations in gross domestic product (GDP). The scope of the concept may differ between the context ...

investments and

fiscal policy In economics and political science, fiscal policy is the use of government revenue collection ( taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variab ...

in opposition to the so-called

austerity In economic policy, austerity is a set of Political economy, political-economic policies that aim to reduce government budget deficits through Government spending, spending cuts, tax increases, or a combination of both. There are three prim ...

policies of the

Washington Consensus The Washington Consensus is a set of ten economic policy prescriptions considered in the 1980s and 1990s to constitute the "standard" reform package promoted for Economic crisis, crisis-wracked developing country, developing countries by the Was ...

and Berlin View. This paved the way for

quantitative easing Quantitative easing (QE) is a monetary policy action where a central bank purchases predetermined amounts of government bonds or other financial assets in order to stimulate economic activity. Quantitative easing is a novel form of monetary polic ...

to begin in 2015.

The Money Museum

The Fed operates a museum at its new site, called The Money Museum. It offers visitors opportunities to learn about the functions of the Federal Reserve system and America's financial systems. Features of the museum include interactive exhibits, a visit to the automated, multi-story cash vault where millions of dollars are secured — one of the largest in the region, viewing of the

Coin Collection, and an opportunity to lift a real gold bar. The museum is open weekdays for self-guided tours and for one-hour guided tours, except holidays.

Branches

Federal Reserve Bank of Kansas City Denver Branch The Federal Reserve Bank of Kansas City Denver Branch is second largest of three branches of the Federal Reserve Bank of Kansas City. The Denver branch opened January 14, 1918 on 17th Street before moving in 1968 to the 16th Street Mall. Current ...

Federal Reserve Bank of Kansas City Oklahoma City Branch The Federal Reserve Bank of Kansas Oklahoma City Branch is one of the 4 branches of the Federal Reserve Bank of Kansas City. The branch which is in Oklahoma City opened on August 2, 1920 at the Continental Building before moving in 1923 to a new bui ...

Federal Reserve Bank of Kansas City Omaha Branch The Federal Reserve Bank of Kansas City Omaha Branch is one of three branches of the Federal Reserve Bank of Kansas City. The branch, which is in Omaha, Nebraska, opened on September 4, 1917. Current Board of Directors The following people are on t ...

Leaders of the bank

A list of leaders of the Kansas City Federal Reserve are listed below. * Charles Manville Sawyer, Governor (1914–1916) * Jo Zach Miller Jr., Governor (1916–1922) * Willis Joshua Bailey, Governor (1922–1932) *

George Henry Hamilton George Henry Hamilton (April 4, 1875 – January 19, 1948) was president of the Federal Reserve Bank of Kansas City from 1932 to 1941. Hamilton served three terms in the Illinois legislature. In 1912 he purchased the State Savings Bank of Wichi ...

, Governor/President (1932–1941) *

Harold Gavin Leedy Harold Gavin Leedy (December 6, 1892 – July 28, 1989) was president of the Federal Reserve Bank of Kansas City from 1941 to 1961. Leedy was born in Benton, Missouri, U.S. His family moved to Cameron, Missouri when he was a child. He graduated ...

, President (1941–1961) * George H. Clay, President (1961–1976) * J. Roger Guffey, President (1976–1991) * Thomas M. Hoenig, President (1991–2011) *

Esther George Esther L. George (born January 15, 1958, in Faucett, Missouri) is the former president and chief executive of the Federal Reserve Bank of Kansas City from 2011 until 2023. George is a native of Faucett, Missouri, U.S., and received a BSBA degr ...

, President (2011–2023) * Kelly Dubbert, Acting President (2023) * Jeffrey Schmid, President (2023–present)

Chairs

Following are chairs of the board of directors of the Kansas City Federal Reserve since 1992.

Board of directors

The following people are on the board of directors : According to the Kansas City's website the directors blended as follows: Class A - Three Class A directors represent commercial banks that are members of the Federal Reserve System. These directors are bankers who are nominated and elected by member banks within the Tenth Federal Reserve District, which includes western Missouri, Nebraska, Kansas, Oklahoma, Wyoming, Colorado and northern New Mexico. Under the Class A category, a director will be elected by a specific group of member banks classified as either 1, 2 or 3. This classification is based on the total amount of capital and surplus for each commercial bank, with Group 1 banks being the largest. Each group within the class elects one director. Class B - Three Class B directors represent the public. Class B directors may not be an officer, director or employee of a bank or bank holding company. These directors are also elected by member banks under the same categories as Class A directors. Class C - Three Class C directors also represent the public, but are appointed by the Board of Governors of the Federal Reserve System. This adds another layer to the blending of public and private control over the nation's central bank. The Board of Governors also selects both the chairman and deputy chairman of each regional Federal Reserve Bank's board of directors from among the Class C directors. These directors are highly insulated from banking relationships. They may not be an officer, director or employee of a bank or bank holding company. Additionally, these directors may not own stock in a bank or a bank holding company.

Popular culture

The heist in the 2008 movie ''

Mad Money ''Mad Money'' is an American finance television program hosted by Jim Cramer that began airing on CNBC on March 14, 2005. Its main focus is investment and speculation, particularly in public company stocks. ''Mad Money'' replaced '' Bullseye' ...

'' takes place at a fictitious version of the bank.

References

External links

Kansas City Fed home pageKansas City Money Museum
*The old main office building is at coordinates {{DEFAULTSORT:Federal Reserve Bank Of Kansas City

Kansas City The Kansas City metropolitan area is a bi-state metropolitan area anchored by Kansas City, Missouri. Its 14 counties straddle the border between the U.S. states of Missouri (9 counties) and Kansas (5 counties). With and a population of more t ...

Economy of Kansas City, Missouri Economy of the Western United States I. M. Pei buildings