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.

Which Came First: Democracy or Growth?

Most economists agree that economic freedom promotes growth, but fewer agree that more political freedom improves economic performance as well. Chile of the 1970s and 1980s and China today are just two autocracies whose economies performed well. (Read more.)

Also in this issue:

• Neighborhoods That Don't Work
• Extra Credit: The Rise of Short-term Liabilities
• The Fed and Consumer Protection
• Skirting the Edge?
• A New Picture of Metro-Area Employment in the Eighth District
• Community Profile: Louisiana, Mo.
• Reader Exchange
  

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.

Reverse Mortgages—the Next Hot Spot?

Senior citizens increasingly are turning to reverse mortgages as a source of income. The summer issue of Bridges examines reverse mortgages, their rapidly growing market and the need for consumer protection. Other articles in this issue focus on:

• a program in Tunica, Miss., that helps teenagers start a business,
• credit scores and why they are important, and
• a matched savings account program that provides a safety net for youth “aging out” of foster care in St. Louis.

Included with Bridges is A Closer Look, a supplement that takes topics from previous and current issues of Bridges and examines them from the perspective of a particular area or community. In this issue, A Closer Look features a competition that rewards entrepreneurs who start a nonprofit, social enterprise.

 

Today's economic woes aren't even close to those of the Great Depression, but that period in history may offer some insights for us today. In this issue of Review, Fed economist Dave Wheelock provides a very readable account of the housing boom and bust of the 1920s and 30s and the federal government's initiatives to reduce foreclosures through government-sponsored refinancing and mortgage market reforms. Sound familiar?

Medicaid Financing, BERG Conference in Regional Economic Development

Kentucky's economy and broadband deployment, transferable tax credits in Missouri, and economic recessions in the Eighth District are all covered in the November issue of Regional Economic Development. This issue includes papers from the Business & Economics Research Group (BERG) conference. The October issue takes a thorough look at Medicaid financing, with papers from the St. Louis Fed's conference on that topic.