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Federal Reserve Bank of Minneapolis

 
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Federal Reserve Bank of Minneapolis
 
 
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The Federal Reserve Bank of Minneapolis, located in Minneapolis, Minnesota
Minneapolis, Minnesota

Minneapolis is the largest city in the U.S. state of Minnesota and is the county seat of Hennepin County, Minnesota. The city lies on both banks of the Mississippi River, just north of the river's confluence with the Minnesota River, and adjoins Saint Paul, Minnesota, the state's Capital ....
 in the United States
United States

The United States of America is a Federal government constitutional republic comprising U.S. state and a federal district. The country is situated mostly in central North America, where its Contiguous United States and Washington, D.C., the Capital districts and territories, lie between the Pacific Ocean and Atlantic Oceans, Borders of the U...
, covers the 9th District of the Federal Reserve, including Minnesota
Minnesota

Minnesota is a U.S. state in the Midwestern United States of the United States. The twelfth largest state by area in the U.S., it is the twenty-first most populous, with just over five million residents....
, Montana
Montana

Montana is a U.S. state in the Western United States. The western third of the state contains numerous mountain ranges; other 'island' ranges are found in the central third of the state, for a total of 77 named ranges of the Rocky Mountains....
, North
North Dakota

North Dakota is a U.S. state located in the Midwestern United States and Western United States regions of the United States of America. North Dakota is the 19th largest state by area in the US; it is the 48th most populous, with just over 640,000 residents as of 2006....
 and South Dakota
South Dakota

South Dakota is a U.S. state located in the Midwestern United States of the United States of America. It is named after the Lakota people and Sioux Sioux Native Americans in the United States tribes....
, northwestern Wisconsin
Wisconsin

Wisconsin is one of the fifty U.S. state in the United States of America, located in the north central part of the United States. It borders two of the five Great Lakes and four U.S....
, and the Upper Peninsula of Michigan
Michigan

Michigan is a Midwestern United States U.S. state of the United States of America. It was named after Lake Michigan, whose name is a French adaptation of the Anishinaabe language term mishigama, meaning "large water" or "large lake"....
. Although its geographical territory is the third largest in the Federal Reserve system, it serves a population base of only 8,349,261 (2000 census
United States Census, 2000

File:US-Census-2000Logo.svgThe Twenty-Second United States Census, known as Census 2000 and conducted by the United States Census Bureau, determined the resident population of the United States on April 1, 2000, to be 281,421,906, an increase of 13.2% over the 248,709,873 persons Enumeration during the United States Census, 1990....
), by far the smallest in the system. It has one branch in Helena, Montana
Helena, Montana

Helena is the Capital city of the United States U.S. state of Montana and the county seat of Lewis and Clark County, Montana. The population was 25,780 at the 2000 United States Census, and had been estimated to rise to 27,885 by 2006....
. The current president is Gary H. Stern
Gary H. Stern

Gary H. Stern took office on March 16, 1985, as the eleventh chief executive of the Federal Reserve Bank of Minneapolis. He is currently serving a full term that began March 1, 2001....
.

The Minneapolis Fed has strong ties to the economics department at the University of Minnesota
University of Minnesota

The University of Minnesota, Twin Cities is a public university research university located in Minneapolis and St. Paul, Minnesota, Minnesota, United States....
.






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The Federal Reserve Bank of Minneapolis, located in Minneapolis, Minnesota
Minneapolis, Minnesota

Minneapolis is the largest city in the U.S. state of Minnesota and is the county seat of Hennepin County, Minnesota. The city lies on both banks of the Mississippi River, just north of the river's confluence with the Minnesota River, and adjoins Saint Paul, Minnesota, the state's Capital ....
 in the United States
United States

The United States of America is a Federal government constitutional republic comprising U.S. state and a federal district. The country is situated mostly in central North America, where its Contiguous United States and Washington, D.C., the Capital districts and territories, lie between the Pacific Ocean and Atlantic Oceans, Borders of the U...
, covers the 9th District of the Federal Reserve, including Minnesota
Minnesota

Minnesota is a U.S. state in the Midwestern United States of the United States. The twelfth largest state by area in the U.S., it is the twenty-first most populous, with just over five million residents....
, Montana
Montana

Montana is a U.S. state in the Western United States. The western third of the state contains numerous mountain ranges; other 'island' ranges are found in the central third of the state, for a total of 77 named ranges of the Rocky Mountains....
, North
North Dakota

North Dakota is a U.S. state located in the Midwestern United States and Western United States regions of the United States of America. North Dakota is the 19th largest state by area in the US; it is the 48th most populous, with just over 640,000 residents as of 2006....
 and South Dakota
South Dakota

South Dakota is a U.S. state located in the Midwestern United States of the United States of America. It is named after the Lakota people and Sioux Sioux Native Americans in the United States tribes....
, northwestern Wisconsin
Wisconsin

Wisconsin is one of the fifty U.S. state in the United States of America, located in the north central part of the United States. It borders two of the five Great Lakes and four U.S....
, and the Upper Peninsula of Michigan
Michigan

Michigan is a Midwestern United States U.S. state of the United States of America. It was named after Lake Michigan, whose name is a French adaptation of the Anishinaabe language term mishigama, meaning "large water" or "large lake"....
. Although its geographical territory is the third largest in the Federal Reserve system, it serves a population base of only 8,349,261 (2000 census
United States Census, 2000

File:US-Census-2000Logo.svgThe Twenty-Second United States Census, known as Census 2000 and conducted by the United States Census Bureau, determined the resident population of the United States on April 1, 2000, to be 281,421,906, an increase of 13.2% over the 248,709,873 persons Enumeration during the United States Census, 1990....
), by far the smallest in the system. It has one branch in Helena, Montana
Helena, Montana

Helena is the Capital city of the United States U.S. state of Montana and the county seat of Lewis and Clark County, Montana. The population was 25,780 at the 2000 United States Census, and had been estimated to rise to 27,885 by 2006....
. The current president is Gary H. Stern
Gary H. Stern

Gary H. Stern took office on March 16, 1985, as the eleventh chief executive of the Federal Reserve Bank of Minneapolis. He is currently serving a full term that began March 1, 2001....
.

The Minneapolis Fed has strong ties to the economics department at the University of Minnesota
University of Minnesota

The University of Minnesota, Twin Cities is a public university research university located in Minneapolis and St. Paul, Minnesota, Minnesota, United States....
. Nobel laureate economist
Economist

An economist is an expert in the social science of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy....
 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 economist
Economist

An economist is an expert in the social science of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy....
s.

Bank buildings

Mplsmodel Fedreserve
Three buildings have served as headquarters for the district, all within a few blocks of each other.

1915-1973

The first was designed by Cass Gilbert
Cass Gilbert

Cass Gilbert was a pioneering American architect. An early proponent of skyscrapers in works like the Woolworth Building, Gilbert was also responsible for numerous museums and libraries , state capitol buildings as well as public architectural icons like the United States Supreme Court building....
 and completed in 1915. It was unusual in that there were no window
Window

File:OldShipWindows.jpgA window is an opening in a wall that allows the passage of light and, if not closed or sealed, air and sound. Windows are usually glazed or covered in some other transparency or translucent material....
s 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
Skyscraper

A skyscraper is a tall, continuously habitable building. There is no official definition nor height above which a building may clearly be classified as a skyscraper....
 8 stories tall was added on top. The modern superstructure clashed with the Roman column
Column

File:National Capitol Columns - Washington, D.C..jpgA column in structural engineering is a vertical structural element that transmits, through physical compression, the weight of the structure above to other structural elements below....
s on the building's façade
Facade

A facade or fa?ade is generally one side of the exterior of a building, especially the front, but also sometimes the sides and rear. The Word comes from the French language, literally meaning "frontage" or "face"....
. After the Fed moved to its second building in 1973, new owner National City Bank (now a part of M&I Bank) had the lower portion covered with something that was a better match to the skyscraper "hat" on top.

The building still exists as 510 Marquette at the corner of Marquette Avenue and 5th Street South in Minneapolis, right next to the Nicollet Mall station of the Hiawatha
Hiawatha Line

The Hiawatha Line is a 12-mile light rail corridor in Hennepin County, Minnesota that extends from downtown Minneapolis to the southern suburb of Bloomington, Minnesota, connecting to the Minneapolis-St....
 light rail
Light rail

Light rail or light rail transit is a form of urban rail transit public transportation that generally has a lower capacity and lower speed than Passenger_rail_terminology#Heavy_rail and rapid transit systems, but higher capacity and higher speed than street-running tram systems....
 line. Inside on the second floor is an indoor garden.

1973-1997

The Federal Reserve moved two blocks away on Marquette Avenue to a building now known as Marquette Plaza
Marquette Plaza

Marquette Plaza is a unique highrise in downtown Minneapolis, Minnesota located at 250 Marquette Avenue. Designed by Gunnar Birkerts, it was home to the Federal Reserve Bank of Minneapolis from 1973 to 1997 ....
, which is constructed much like a suspension bridge
Suspension bridge

A suspension bridge is a type of bridge where the main load-bearing elements are hung from suspension cables. While modern suspension bridges with level decks date from the early 19th century, earlier types are reported from the 3rd century BC....
 with cables strung between pillars at the ends carrying the load. It is noted as the first (and perhaps only) building ever made to use catenary
Catenary

In physics and geometry, the catenary is the theoretical shape of a hanging flexible chain or cable when supported at its ends and acted upon by a uniform gravity force and in equilibrium....
 support. Design problems, along with asbestos
Asbestos

Asbestos is a naturally occurring silicate mineral with long, thin fibrous crystals. The word asbestos is derived from a Greek language adjective meaning inextinguishable....
 contamination, led the Federal Reserve to decide to move into a new complex and sell the old structure. The new owner rehabilitated the building and added on, and the building temporarily housed the central Minneapolis Public Library
Minneapolis Public Library

The Minneapolis Public Library and Information Center was a library system serving the residents of Minneapolis, Minnesota in the United States....
 while its new building was under construction.

1997-present time

A complex along the Mississippi River
Mississippi River

The Mississippi River is the longest river in the United States, with a length of from its source in Lake Itasca in Minnesota to its mouth in the Gulf of Mexico....
 now serves as home to the Minneapolis Fed, which moved there in 1997. The address was set as 90 Hennepin Avenue
Hennepin Avenue

File:Nye's on East Hennepin.jpgHennepin Avenue is a major street in Minneapolis, Minnesota, Minnesota, United States. It runs from Lakewood Cemetery , north through the Uptown, Minneapolis of Southwest Minneapolis, through the former "Bottleneck" area west of Loring Park, through the North Loop, Minneapolis in the city center, to Northea...
 to match the 9th district designation. It is located on the site of the former Minneapolis Great Northern Depot
Minneapolis Great Northern Depot

The Minneapolis Great Northern Depot was a passenger train station that served Minneapolis, Minnesota. It was built in 1913 and torn down in 1978....
 adjacent to the Hennepin Avenue Bridge
Hennepin Avenue Bridge

The Hennepin Avenue Bridge is the structure that carries Hennepin County State Aid Highway 52, Hennepin Avenue, across the Mississippi River in Minneapolis, Minnesota at Nicollet Island....
.

Court Cases


External links