Annual Reports

The St. Louis Fed’s 2024 annual report highlights the Bank’s many efforts to hear from and deliver results for the people and communities of the Eighth Federal Reserve District and the nation. The “Our People, Our Work” section illustrates—through narrative, numbers and photos—the work we carried out last year in support of our public service mission. The report also includes a message from St. Louis Fed President and CEO Alberto Musalem on his first year in office and on the importance of engaging with Main Street and representing the District at the Federal Open Market Committee. You’ll also find listings for our boards of directors, advisory councils, executive leadership and officers, as well as a link to our annual audited financial statements.

In the St. Louis Fed’s 2023 annual report, contributing authors and economists Fernando Martin and David Wheelock provide an overview of the rise and fall of U.S. inflation from 2021 to 2023. Other Bank economists present related research findings: Victoria Gregory explores the impact of inflation on workers’ wages, Serdar Birinci examines job switching and inflation dynamics, and Michael McCracken shares insights on inflation forecast horizons. The report opens with a letter from Alberto Musalem, who became the Bank’s 13th president and CEO on April 2, 2024. Carolyn Chism Hardy, chair of our board of directors, writes a message from Main Street. In addition, the report features a “by the numbers” look at our work on behalf of the Eighth Federal Reserve District in 2023.

In the St. Louis Fed’s 2022 annual report, economists Subhayu Bandyopadhyay, Maximiliano Dvorkin, Fernando Leibovici and Ana Maria Santacreu examine developing trends in U.S. and world trade, including the headwinds that may be slowing the process of globalization. The report includes leadership messages from St. Louis Fed President and CEO Jim Bullard, who reflects on trade and globalization since the 1980s, and from Jim McKelvey, chair of the Bank’s board of directors, who writes about embracing a pattern of scrutiny of the Federal Reserve and the importance of the Fed’s regional structure. Rounding out the report is a “by the numbers” snapshot of our work across the Eighth Federal Reserve District in 2022.

The underpinnings of decentralized finance, including Bitcoin and blockchain technology, have been around for more than a decade. Yet, public interest in cryptocurrencies has recently exploded and shows no signs of waning. In the St. Louis Fed’s 2021 annual report, economists David Andolfatto and Fernando M. Martin explain how these cutting-edge technologies work and examine a range of considerations, including those tied to a potential central bank digital currency. The report leads with insights from St. Louis Fed President Jim Bullard on the importance of studying payment technologies. The report also features a column from Jim McKelvey, chair of our board of directors. Rounding out the report is a “by the numbers” spotlight on the impact made by St. Louis Fed staff in 2021.

The Federal Reserve Bank of St. Louis, along with the rest of the Federal Reserve System, recently turned 100. To mark its centennial, the St. Louis Fed published "100 Years of Service." You'll read about the financial instability in the country that led to the birth of the Federal Reserve, our nation's third attempt at a central bank. You'll also find out why, a half-century later, the St. Louis Fed came to be known as the maverick in the Fed system. But the book also looks at the Bank today and what lies ahead. See how we serve not only financial institutions and the Treasury, but also educators, those who work in community development, the wide variety of people who look to us for economic research and data, and the public at large.