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Federal Reserve Bank of Minneapolis


The Federal Reserve Bank of Minneapolis, located in Minneapolis, Minnesota, in the United States, covers the 9th District of the Federal Reserve, which is made up of Minnesota, Montana, North and South Dakota, northwestern Wisconsin, and the Upper Peninsula of Michigan. Although its geographical territory is the third largest of the 12 Federal Reserve banks, it serves the smallest population base of the system. It has one branch, which is in Helena, Montana.

The bank has a staff of over 1000 people.

Neel Kashkari became the bank's president on January 1, 2016; succeeding Narayana Kocherlakota. The Minneapolis Fed has strong ties to the economics department at the University of Minnesota. Nobel laureate economist Edward Prescott was affiliated with both institutions for a long time. The Bank publishes The Region, a magazine featuring articles about economic policy and interviews with famous economists.

Three buildings have served as headquarters for the district, all within a few blocks of each other. All three buildings are standing as of 2017.

The first building for the Minneapolis Federal Reserve bank is located at 510 Marquette Avenue, at the corner of Marquette Avenue and 5th Street South in Minneapolis, right next to the Nicollet Mall station of the METRO Blue and Green light rail lines, and across from the Soo Line Building. It was designed by Cass Gilbert, architect of the Minnesota State Capitol building. It was completed in 1915. The building was unusual in that there were no windows on the lower walls close to the street—from the start, large bricks filled in the spaces where windows would be expected. Only up at the top was anyone able to look out from the building. The structure only became more strange in the 1950s, when a small skyscraper eight stories tall was added on top. The modern superstructure clashed with the granite Roman columns on the building's façade.


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