New York Fed Research Library
During the 1930s, major events were often announced by newsreels shown in movie theaters before feature films. This is how the Fed’s new headquarters made its film debut in 1937.
Construction began in 1935, twenty-two years after the creation of the Federal Reserve System and following the Board of Governors’ decision to consolidate its Washington, D.C., staff into one central building. The new $3.5 million structure, a “modernist interpretation of the Beaux-Arts style,” was dedicated by President Franklin D. Roosevelt. Board Chairman Marriner S. Eccles was also in attendance. In 1982, the Constitution Avenue building was renamed in his honor.
A note to our readers: As this is an archival film, there are a few quirks with the footage. Once the video begins playing, there is a seventeen-second delay before the clip starts. In addition, the end of the newsreel features the beginning of a story unrelated to the Federal Reserve.
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