Fed joins Instagram, Threads to 'increase accessibility and availability of Board news'

Josh Schafer

Jerome Powell is on Instagram now, too.

The Federal Reserve launched accounts on Meta's Instagram and Threads on Monday with the central bank's chairman appearing on camera for the first post. The goal of the accounts is to increase the "accessibility and availability of Board news and educational content," according to a press release.

“Hi, I’m Jay Powell, I’m the chair of the Federal Reserve," Powell said in the Fed's first Instagram post Monday.

He continued: "The Fed is America's central bank working to promote a healthy economy and a strong financial system. That mission starts with you. "

The Fed hopes the new accounts will provide Americans resources on how Fed decisions impact the economy. The Fed has already been on X, formerly known as Twitter, where it often tweets out press releases surrounding monetary policy, personal finance tips, and photos.

WASHINGTON, DC - OCTOBER 14: Chair of the U.S. Federal Reserve Jerome Powell checks his phone during a meeting of the IMFC (International Monetary and Financial Committee) at the IMF and World Bank Annual Meetings at IMF headquarters, October 14, 2022 in Washington, DC. Secretary Yellen will hold a news conference and take questions later in the day. (Photo by Drew Angerer/Getty Images)
Chair of the US Federal Reserve Jerome Powell checks his phone during a meeting of the IMFC at the IMF and World Bank Annual Meetings at IMF headquarters, Oct. 14, 2022 in Washington, D.C. (Drew Angerer/Getty Images) (Drew Angerer via Getty Images)

The Fed has more than 1.1 million followers on X, which it joined in 2009. In about 24 hours, the new Instagram had more than 30,000 followers. The central bank is also already on YouTube and Facebook.

Instagram has become a popular space for personal finance influencers who teach viewers about investing or how to save money.

The Fed, whose commentary is closely watched by investors and often moves markets, didn't indicate how loose it will get with the central bank's new Instagram handle. If its other social media accounts are any indicator, it's not likely to be a viral clip machine.

Josh is a reporter for Yahoo Finance.

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