The Federal Reserve Is on Instagram When Not Raising Rates

Jerome Powell, chairman of the Federal Reserve, introduced the central bank’s new Instagram account with a video message on Monday.

In the introductory post, Powell stated that throughout the month of October, which is National Economic Education Month, the organization will be posting links to events, resources, and other information on “how the Fed’s decisions” affect individuals throughout the country.

Along with its new presence on Instagram, Powell also added that the Fed has joined the social media’s text-based platform, Threads. There, its first post states that the account’s aim is to increase the “accessibility and availability” of Fed news and educational resources.

Powell’s inaugural video already has nearly 6,000 comments, many of which poke fun at the government agency’s social media debut.

“What’s up dude want to collab on a goofy dance?” one user commented. “So, is JP an influencer now?” another wrote. “I give it one post until they disable comments,” said another.

The Fed has been active on social media platforms like Facebook, X (formerly Twitter), YouTube, LinkedIn, and Flickr for years.

Similarly, other Regional Federal Reserve banks like the San Francisco Fed, New York Fed, and Chicago Fed all have a presence on Instagram, using the platform to share news and resources, and feature members of its staff.

In July, the Fed raised interest rates by a quarter percentage point to reach the 5.25%-5.50% range, the highest level in over 22 years.