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  • St. Louis Fed Co-Convenes National Forum; Boshara to Moderate
    • Center Director Ray Boshara will moderate a panel at the America Saves National Savings Forum, co-convened by the St. Louis Federal Reserve. The forum will take place May 18 at the National Association of Home Builders in Washington, D.C.

      Panels will focus on the importance of saving, of encouraging good savings habits and products, and of saving as an American value.
      register now »
  • Author of "Black Wealth, White Wealth: A New Perspective on Racial Inequality" to Speak in St. Louis
    • Melvin L. Oliver will discuss his groundbreaking research on income and wealth inequality on Wednesday, Sept. 16 at 4:30 p.m. in St. Louis. The talk is cosponsored by the Center for Household Financial Stability, Washington University's Weidenbaum Center on the Economy, Government, and Public Policy; Department of Sociology; Center for Social Development; School of Law Public Interest Law & Policy Speaker Series; and Assembly Series.

      Oliver is coauthor of the book “Black Wealth, White Wealth: A New Perspective on Racial Inequality,” which provided an explanation for the racial inequality gap between blacks and whites. The event is free and open to the public.
      register now »
  • The Demographics of Wealth: The Role of Education
    • The Center for Household Financial Stability has released its second essay in the “Demographics of Wealth” series, which examines who is thriving and who is struggling financially in the U.S. today. The essay, published May 5, 2015, looks at the link between educational attainment and wealth accumulation. The first essay looked at the role of race in wealth accumulation. The next essay will look at the role of age.
      read the essay »
  • "The Middle Class May Be Under More Pressure Than You Think"
    • In the April 2015 issue of In the Balance, authors William R. Emmons and Bryan J. Noeth compare two methods of measuring the financial health of the middle class, as well as that of richer and poorer households. The authors believe that the method most often used by economists – using the median income or wealth level – can be ambiguous and even misleading. Instead, Emmons and Noeth recommend looking at the classes of people through the eyes of a sociologist. When the authors do so, they find that the middle class may be hurting financially more than most people realize.
      read the article »
  • The Demographics of Wealth: The Role of Race
    • The Center for Household Financial Stability has released its first essay in its "Demographics of Wealth" series, which examines who is thriving and who is struggling financially in the U.S. today. The first essay, published Feb. 26, 2015, looks at the link between race and wealth accumulation. Subsequent essays will focus on the roles played by age and educational attainment.
      read the essay »
      view media coverage »
  • Center Staff Publish Washington Post Op-ed
    • The director and senior economic adviser for the Center for Household Financial Stability co-authored an op-ed in The Washington Post on Dec. 31, 2014. The authors examined the Federal Reserve's recent Survey of Consumer Finances on the wealth and income of African American (and other) families and concluded that, with well-designed economic interventions and some vision among leaders, more financially fragile Americans could thrive.
  • Register Now for Fed's Community Development Research Conference
    • Registration is open for the Federal Reserve's ninth biennial community development research conference in Washington, D.C. This unique event, titled "Economic Mobility: Research & Ideas on Strengthening Families, Communities & the Economy," aims to bridge the gaps between research, policy and practice on key issues facing the country. The event will take place April 2-3, 2015, and you can register here.
  • Center Staff Participates in Millennials Rising Symposium
    • Staff from the Center for Household Financial Stability on Oct. 16, 2014 participated in a policy symposium titled "Millennials Rising: Next Generation Policies in the Wake of the Great Recession." The symposium was convened by the New America Foundation, Young Invincibles and the Roosevelt Campus Network. Materials from the event, including videos of all of the sessions, are available here.
  • Center Staff Discusses Latest Survey of Consumer Finances
    • Ray Boshara, William Emmons and Bryan Noeth of the St. Louis Fed’s Center for Household Financial Stability discussed the most recent release of the Fed’s Survey of Consumer Finances on the blogSt. Louis Fed On the Economy. They noted that the gains made in income and net worth of the typical American family in the 1990s and 2000s were erased by the Great Recession, while economically vulnerable groups fared even worse.
      »read the discussion
  • Ray Boshara gives plenary remarks at the CFED Assets Learning Conference in Washington, D.C.
    • Following Federal Reserve Chair Janet Yellen's video message on Sept. 18, 2014, to 1,200 attendees, the Center's director, Ray Boshara, shared some lessons from the assets field and highlighted some of the field's most exciting developments.
      read the remarks »
  • Center Staff Contributes to Fed Board Report
  • Boshara, Emmons Give Remarks at Congressional Briefing
    • Ray Boshara and William Emmons of the St. Louis Fed’s Center for Household Financial Stability gave remarks at a congressional briefing on "Wealth in America: How Can Congress Support Mobility?" hosted by the Urban Institute, the Congressional Savings and Ownership Caucus and the Senate Economic Mobility Caucus on July 16, 2014. At the event, an issue brief was released and signed by leading wealth researchers who were convened last October in Washington, D.C., by the Urban Institute and the Center for Household Financial Stability.
      read the remarks »
  • "Hispanic Population's Share of Wealth Likely to Increase by 2025"
    • In the June 2014 issue of In the Balance, read about the trends in household wealth for Hispanics, and how their share of all wealth in the United States will likely grow to an all-time high in 10 years.
      read the article »
  • Research Symposium Videos and Slides Now Available
    • Materials from the May 8-9, 2014 research symposium on the balance sheets of young Americans are now available online. The post-event materials include media coverage, slides and videos.
      view symposium materials »
  • Call for Papers: Economic Mobility: Research & Ideas on Strengthening Families, Communities & the Economy
    • The Community Affairs Officers of the Federal Reserve System welcome your interest in submitting a paper for the ninth biennial Federal Reserve System Community Development Research Conference in Washington, D.C., April 2-3, 2015.
      read more about the call for papers and the event »
  • The Center in Philadelphia Fed Publication
    • An article by Ray Boshara and William Emmons (director and senior economic adviser of the Center for Household Financial Stability, respectively) was published in the Winter 2014 issue of Cascade, a publication of the Federal Reserve Bank of Philadelphia. The article focused on family balance sheets leading up to the Great Recession and wealth recovery since the recession. The authors emphasized that asset diversification and low debt are essential to building and maintaining wealth.
  • Boshara Gives Remarks at National Retirement Policy Conference
    • Ray Boshara, director of the Center for Household Financial Stability, on March 4, 2014, talked about wealth recovery and options for saving early in life at the National Institute on Retirement Security’s Fifth Annual Retirement Conference in Washington, D.C.
      view the presentation slides »
  • Emmons Talks About the Financial Outlook for American Families
    • William Emmons, senior economic adviser at the Center for Household Financial Stability, presented "The Financial Outlook for American Families" on Feb. 27, 2014, at the Simon Center for Regional Forecasting 2014 Conference "Feeling Better ... But Fully Recovered?" at Saint Louis University.
  • "Housing Crash Continues to Overshadow Young Families' Balance Sheets"
    • In the February 2014 issue of In the Balance, read why young families’ balance-sheet recovery lags behind that of middle-aged and older adults.
      read the article »
  • Boshara Talks About Wealth Recovery During Webinar on Leveraging Mobility
  • Watch Webcast of Ray Boshara's Feb. 12 Remarks on Balance Sheets
  • "Wealth Recovery Still Not Complete, Remains Uneven Across Families and Locations"
  • Forum Explores the Reality and Future of Student Loans in the St. Louis Region
    • During a recent event, leading education experts and researchers shared information on rising student debt, offered potential solutions to this growing concern and provided real and practical resources to help students and their families manage student loans. The "Generation Debt: The Promise, Perils and Future of Student Loans" symposium was held at the St. Louis Fed on Nov. 18, 2013. The event was presented by the Center for Household Financial Stability in partnership with the Center for Social Development at Washington University in St. Louis.
      view symposium materials and videos »
  • New Review Focuses on Household Financial Stability
    • The latest Review, the St. Louis Fed's research journal, features papers that were presented earlier this year at the Center's symposium—"Restoring Household Financial Stability after the Great Recession: Why Household Balance Sheets Matter." The topics of the papers include the current state of household balance sheets, the effects of household debt and leverage on consumer spending, the effects of health and wealth shocks on retirement decisions, and the impact of student-loan debt on the short-run financial health of households.
      read the September/October issue »
  • "Housing Rebound Broadens the Wealth Recovery But Much More Is Needed"
    • In the November 2013 issue of In the Balance, read about how the housing recovery is improving household net worth, but may be favoring higher-priced houses and, thus, wealthier families.
      read the article »
  • Center Launches Newsletter
  • The Center is Pleased to Welcome Don Schlagenhauf to its Team
    • Don started his role as chief economist at the Center in August. He will oversee the Center's research efforts, lead the development of a household balance sheet index, write about key balance sheet topics, develop a new balance sheet data warehouse and coordinate the Center's various research symposia. Prior to joining the Fed, Schlagenhauf served as a professor of economics at Florida State University, as well as a visiting scholar at the Federal Reserve banks of Atlanta and St. Louis.
      more about Don »
  • Average U.S. Household Has Recovered Only 62.8 Percent of the Wealth Lost During the Recession
    • In the June 2013 issue of In The Balance, read about evidence that the average household still has a long way to go to restore the wealth lost during the recession.
      read the essay »
  • St. Louis Fed Releases Annual Report
    • In this year's Annual Report, released May 30, 2013, Ray Boshara and William Emmons of the St. Louis Fed's new Center for Household Financial Stability provide data on the damage to household wealth during the Great Recession, explore the circumstances that led to large declines in household wealth, make the case that such wealth has not fully recovered, and show why all of that matters for U.S. economic recovery.
      read the essay »
  • The Nation's Wealth Recovery Since 2009 Conceals Vastly Different Balance-Sheet Realities among America's Families
    • In the latest issue of In the Balance, read why reports of a recovery in household wealth to its pre-financial-crisis level are misleading because some families' balance sheets continue to shrink.
      read the essay »
  • Dialogue with the Fed – After the Fall: Rebuilding Family Balance Sheets
    • The St. Louis Fed presented "After the Fall: Rebuilding Family Balance Sheets, Rebuilding the Economy," May, 23, 2013, as part of its Dialogue with the Fed evening lecture series. Ray Boshara, director of the St. Louis Fed's Center for Household Financial Stability and William Emmons, the Center's chief economist, explored the lingering damage to household financial stability caused by the Great Recession — and why that matters for helping both families and the economy move forward. Presentation slides (pdf) are now available, and video of the event will be posted soon.
  • Gov. Raskin Talks About Macroeconomic Role of Household Wealth
    • Federal Reserve Gov. Sarah Bloom Raskin, at the 22nd Annual Hyman P. Minsky Conference in New York on April 18, 2013, gave remarks on “Aspects of Inequality in the Recent Business Cycle.” During her talk, she said many experts have argued that income disparities hinder economic growth through their effects on consumption.
      “But since household behavior is surely driven by more than the size of the paycheck coming in the proverbial front door,” she said, “the distribution of wealth—as distinct from the distribution of income—could have clearer implications for the macroeconomy.”
  • Household Balance Sheets' Role in National Economic Growth Explored by Experts
    • Leading national and international experts in the roots of the devastation to household balance sheets during the Great Recession gathered at the Federal Reserve Bank of St. Louis Feb. 5-7, 2013, to explore ways to improve household balance sheets, which play a critical role in household financial stability and restoring national economic growth.
      more about the event »
      view conference materials and videos »
  • National Leaders and Innovators Gather for Household Financial Stability Forum at St. Louis Fed
    • In late October 2012, nearly 200 people from across the country gathered at the Federal Reserve Bank of St. Louis to discuss ways to improve access to financial services for the unbanked and underbanked, as well as to hear from those who have been generating ideas and innovations in building household wealth.
      more about the event »
      view conference materials and videos »