All St. Louis Fed Publications

Features

Americans' increasing reliance on short-term ways of borrowing money—such as credit cards and payday loans—could have long-term implications for the economy. Learn more in the fall issue of Inside the Vault, our economic education newsletter.

Also in this issue, find out more about credit scores and how they're determined in Q&A, and get the latest news on St. Louis Fed teaching tools, courses and conferences in Bulletin Board.

The recent failures of ANB Financial and IndyMac illustrate how missing the basics of sound banking leads to serious problems. The fall issue of Central Banker expands on those essentials by examining what prompt corrective action means for a bank’s liquidity. (Read more.)

An easy-to-read guide to the structure and functions of the Federal Reserve System.

Let Markets Resolve Mortgage Crisis

As painful as it may be, letting the housing and mortgage markets sort out these problems on their own would be best for the economy in the long run. Large-scale government interventions are not necessarily the best policy responses, although those made truly needy by this crisis need to be helped. Read more.

Also in the July issue:

Full issue.

To see what’s on the minds of our readers, check out the letters to the editor, or send a letter of your own.

Exploring Innovation in Rural Areas

A building in Dyess, Ark., renovated in the city's heritage preservation-based plan

Dyess, Ark., received a $42,000 grant to help restore this building. When completed, it will house the Johnny Cash Memorial and city offices.

Community leaders in Dyess, Ark., a small town of just over 500 people, took a lemon—an abandoned school building—and made lemonade by transforming it into a performing arts auditorium that is the centerpiece of their annual music festival. The summer issue of Bridges highlights the critical role this new auditorium plays in Dyess’ heritage preservation-based plan.

Other articles in the newsletter focus on affordable “green” housing, philanthropic organizations and the foreclosure crisis, and proposed rules designed to prevent unfair practices regarding credit cards.

A Closer Look, a supplement to Bridges, features a farmers market in Louisville that has had a far-reaching effect on several distressed neighborhoods.

For those of you interested in the results of a readership survey we sent out at the beginning of the year, here’s what you had to say.

Latest Review Covers Credit Crunch, Banking Crises

In the September/October issue of the St. Louis Fed's Review, visiting scholar Paul Mizen tells the story of the subprime failure leading up to the 2007-08 credit crunch, with definitions of terms and concepts, references to commentary on the main issues, and context and explanation of why the credit crunch occurred. In a complementary article, economists Alistair Milne and Geoffrey Wood offer a brief historical context and a detailed account of the run on the Northern Rock bank and the government and central bank response. (Read more.)

Poole Reflects in Bank’s 2007 Annual Report

Former St. Louis Fed President Bill Poole looks back at his eventful 10-year presidency in the Bank's 2007 Annual Report. In a final interview, Poole discusses the Fed's proper role during times of crisis, such as the turbulent economic events that took place during his tenure. He also shares his thoughts on the FOMC's communication policies and on the evolving functions of Reserve banks. Also included are highlights from some of Poole's nearly 150 speeches.

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