World-class organizations are defined by certain core characteristics: expertise, innovation and a passion for serving constituents, to name a few. These same words fittingly define the Federal Reserve Bank of St. Louis, a distinguished institution for which I have the privilege of serving as chairman of the board.
After commemorating its centennial in 2014, the St. Louis Fed, along with the entire Federal Reserve System, entered a second century as an organization that is essential to the economic health of our region, our nation and the world.
The St. Louis Fed has long contributed to the economy in many vital ways. For example, it's been a leading researcher and advocate of sound monetary policy, a global provider of comprehensive economic data and analytical tools, and a voice of Main Street around the Federal Open Market Committee table.
During my three years on the St. Louis Fed's board, I have come to know and respect the Bank as an organization catalyzed by a strong research and business culture. Each day, the St. Louis Fed's staff anticipates and tackles constituents' needs with integrity and purpose. Whether by supervising financial institutions to ensure financial stability, producing cutting-edge economic research, serving as fiscal agent for the U.S. Treasury, interacting with the public through its new Inside the Economy Museum, or producing engaging economic education curriculum for schools and community development programs, the St. Louis Fed today continues its tradition of serving diverse communities to make a positive impact on the economy for all.
This year's annual report contains many examples of how the St. Louis Fed makes a difference. A particular highlight is the leadership that the Bank has provided in the Federal Reserve System's current study on the future of the U.S. payment system. (See the main essay of this annual report.)
On behalf of the entire board of directors, I thank the St. Louis Fed's executives for their outstanding leadership and all of the employees for carrying forth the Bank's outstanding legacy and enduring commitment to serving the public.
Chairman of the Board of Directors
Federal Reserve Bank of St. Louis