The Federal Reserve can now be followed on Instagram and Threads.
In a news release, the federal agency said it was creating accounts on the two Meta-owned social media platforms to increase “the accessibility and availability of Board news and educational content.”
Threads, a text-based conservation social media platform, launched earlier this year, as a rival to X, a social media platform formerly known as Twitter.
“Instagram posts generally will include photos, videos, frequently asked questions and answers, economic education content and more,” the agency said in its news release. “Posts on Threads will include press releases, speeches, testimony, reports and all other content that is regularly posted on the Board’s X account, formerly known as Twitter.”
The agency’s Instagram account, which now had already amassed nearly 30,000 followers as of Tuesday morning, included an introduction video from Federal Reserve chair Jerome Powell as its first post on the site.
“Hi, I’m Jay Powell. I’m the chair of the Federal Reserve and I want you to know that the Federal Reserve is now on Instagram and Threads,” Powell said in the 30-second video.
The other two posts on the agency’s Instagram page show photos of Powell’s visit to York, Pennsylvania, meeting with the Federal Reserve Bank of Philadelphia President Patrick Harker and other small business owners “about revitalization initiatives, workforce education and training programs, and support for small business growth.”
The announcement comes as economists, investors and consumers continue to watch the Federal Reserve’s moves on managing inflation.
Federal Reserve Gov. Michelle Bowman said on Monday additional interest rates hikes will likely be needed in ongoing efforts to tackle rising costs in the country.
“Inflation continues to be too high, and I expect it will likely be appropriate for the committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way,” Bowman said at a conference in Canada.