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The Federal Reserve Bank of Richmond would very much like to hear your view of recent activity and the near-term outlook for the local housing market. As one of the 12 Regional Reserve Banks that makes up the Federal Reserve System we regularly seek out the views of businesses to get a detailed, real-time assessment of the regional economy. This assessment helps our Bank president in his monetary policy decisions as well as provides other members of the Federal Reserve and the public with a more accurate picture of the economy.