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.
Program Helps Renters Build Assets
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| Landscaping at St. Anthony Village in the Over-the-Rhine neighborhood of Cincinnati is maintained by residents. |
Homeownership has long been considered a way to increase wealth, preferable to renting for that reason. The fall issue of Bridges looks at a program in Cincinnati that allows renters to build equity and, once vested, receive cash payments. To participate, renters must pay their rent on time and help manage and maintain their apartment complex.
Other topics in the newsletter include:
- the high rate of foreclosures in one St. Louis suburb and
- partnerships the University of Memphis has formed with surrounding communities.
U.S. Income Inequality: It’s Not So Bad
Census data show that the income of the rich is growing faster than the income of the poor. But such common measures exaggerate the degree of income inequality. In addition, income inequality is the result of—and not a detriment to—a well-functioning economy. Read more.
Also in the October issue:
- President’s Message: Worry Less about Systemic Risk, More about Inflation
- Community Colleges: Not So Junior Anymore
- Did Credit Scores Predict the Subprime Crisis?
- District Tops U.S. in Growth of Exports to China
- Community Profile: Paris, Tenn.
- Reader Exchange
To
see what’s on the minds of our readers, check out the letters
to the editor, or send a letter of your own.
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.

