As the chair of the Federal Reserve Bank of St. Louis, I take a keen interest in the Bank’s decisions and actions. During my time serving on the board of directors, I have had the privilege of seeing first-hand how passionate the St. Louis Fed is about excellence through its commitment to service, its business planning and its quality, efficient operations.
I also appreciate the Bank on another level—the same level that those of you reading this can appreciate it and the same way that I will after my term on the board concludes—as an everyday consumer and citizen. That appreciation can be summed up in one word: confidence.
What I mean is that as we go about our daily lives, we can have confidence that the money we work hard to earn will maintain its value because an organization like the Federal Reserve is working diligently to foster a healthy, stable economy. The regional structure of the Fed, with 12 banks located in all parts of the nation, ensures that the economic conditions of “Main Street”—communities and industries from all regions of the country—are taken into account in monetary policy decision-making. Here in the Eighth District, our voice is well-represented by St. Louis Fed President James Bullard.
The St. Louis Fed serves a variety of constituents in supporting five areas outlined in the Bank’s mission:
- advancing monetary policy focused on low inflation;
- performing effectively as the fiscal agent and depository of the U.S. Treasury;
- fostering safe and responsible banking practices;
- providing beneficial regional economic research, community development programs, and economic and financial education; and
- providing and promoting efficient, reliable and accessible payment services.
Finally, my experience on the board gives me confidence because I know that the staff members of the St. Louis Fed—whether they work in St. Louis, Little Rock, Louisville or Memphis—perform their duties with an ideal blend of discipline and innovation. The passion for excellence that I mentioned previously shines through in both the attitude and performance of the Bank’s employees.
I am proud to say that when it comes to the St. Louis Fed and its contributions to a healthy economy and a stable financial system, confidence is high.
Kathleen M. Mazzarella
Chair of the Board of Directors
Federal Reserve Bank of St. Louis