Annual Report 2023 | Federal Reserve Bank of St. Louis

Annual Report 2023

Federal Reserve Bank of St. Louis

Prices, Wages and Workers:
The Recent U.S. Inflation Experience

Prices, Wages and Workers:
The Recent U.S. Inflation Experience

Our People, Our Work


St. Louis Fed employees

The people of the Federal Reserve Bank of St. Louis serve the public by promoting a healthy economy and strong financial system for all. From the Bank’s head office in St. Louis to our branches in Little Rock, Louisville and Memphis, we represent the Eighth Federal Reserve District and the nation in all we do.

This section of our annual report brings to life our mission and work on behalf of the Fed’s Eighth District in 2023.

In August, the St. Louis Fed formally launched the search process to hire its 13th president and CEO. This followed the Bank’s announcement in July that Jim Bullard was stepping down after 15 years as Bank president to head Purdue University’s business school and that, in accordance with the Federal Reserve Act, First Vice President and Chief Operating Officer Kathy O’Neill was appointed by our board of directors as interim president and CEO.

After a robust, transparent and inclusive national search, consistent with the Federal Reserve Act and upon the approval of the Board of Governors, the St. Louis Fed’s Class B and C directors appointed Alberto Musalem the Bank’s next president and CEO, effective April 2, 2024.

The process to name a new president and CEO was one of the many developments at the St. Louis Fed in 2023. Below, read more about the Bank’s impact in support of the Eighth District.

All numbers are as of Dec. 31, 2023, unless otherwise noted.


Providing Thought Leadership through Scholarly Economic Research

Top 1%

among all research institutions worldwide

Top 2%

among all U.S. research institutions

Top 7%

in research productivity among all central bank research departments worldwide


page views of the St. Louis Fed’s research content by people in 193 countries


data series in FRED®, the St. Louis Fed’s free economic database


items in FRASER®, the St. Louis Fed’s historical digital library


Fostering Financial Stability and Soundness


state member banks and 458 bank, financial, and savings and loan holding companies supervised by the St. Louis Fed


in improper and stopped payments identified by the Bank in its role as fiscal agent to the U.S. Department of the Treasury and its Do Not Pay program


currency notes inspected, and 862 million notes deemed fit for circulation


notes removed from circulation and shredded, which equals 127 tons composted


suspected counterfeit notes withdrawn from circulation


hours spent by internal auditors reviewing St. Louis Fed operationsHours do not include time spent on training, administrative work and special projects.


Empowering Communities through Education and Outreach


bankers, regulators and other industry participants engaged in information sessions about financial and regulatory developments


people registered for 38 events led by the Bank’s Community Development department to promote economic resilience, mobility and equity


attendees at presentations requested through the St. Louis Fed’s public speakers bureau


attendees at St. Louis Fed public dialogue and outreach events


educators trained at 167 economic education workshops, webinars and conferences


active engagements in the Bank’s Econ Lowdown economic education curriculum


college and five high school interns, with 11 college interns offered full-time employment


high school seniors in the St. Louis Fed’s student board of directors program


Sharing Timely Information about the Economy and the Fed


page views of the Bank’s website,


page views of On the Economy and Open Vault, which offer frequent economic analyses and explainers spotlighting timely topics


page views of the FRED® Blog, which provides analysis on key data found in FRED


total downloads of the Timely Topics and Women in Economics podcast series


subscribers to the Bank’s various publications, blogs and newsletters


followers of the Bank’s social media accountsPlatforms include X, Facebook, LinkedIn, Instagram, YouTube and Pinterest.


Embracing Diversity, Equity and Inclusion


of all inner-city, majority-minority and all-girls high schools across the Fed’s Eighth District contacted and offered support from the St. Louis Fed’s Economic Education team


of the Bank’s workforce engaged in employee-led resource groups, which are focused on African Americans, Asians, Latino/Hispanic Americans, women, people with disabilities, military veterans, the LGBTQ+ community and young professionals


Doing Good for the Sake of Good


pounds of waste recycled and 234,441 pounds composted, reflecting the Bank’s ongoing commitment to sustainability


in employee donations made to the United Way of Greater St. Louis


  1. Hours do not include time spent on training, administrative work and special projects.
  2. Platforms include X, Facebook, LinkedIn, Instagram, YouTube and Pinterest.
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