This year’s annual report examines a project the Fed is spearheading to improve the U.S. payment system. The essay is written by St. Louis Fed First Vice President David Sapenaro, who recently completed his responsibilities as the project’s interim payments strategy director.View Publication
Don E. Schlagenhauf is chief economist at the Center for Household Financial Stability, where his areas of focus include overseeing the Center’s research efforts, leading the development of a household balance sheet “index” (as a new leading indicator), writing about key balance sheet topics, developing a new balance sheet data warehouse and coordinating the center’s various research symposia. Prior to joining the Fed, Schlagenhauf served as a professor of economics at Florida State University, where his research focused on a variety of topics including the issues that arise from studying changes in the composition of household balance sheets, the effects of mortgage innovations in the recent housing boom and bust and more. Schlagenhauf’s concentrations include macroeconomic theory, real estate economics, international monetary theory and policy, and computational economics. Prior to joining Florida State in 1998, Schlagenhauf served as a visiting scholar for the Federal Reserve banks of St. Louis and Atlanta, as well as for a number of national and international universities. He has also held various positions including professor of economics and distinguished research professor at Arizona State University. Schlagenhauf received his bachelor’s in business administration from Marquette University and his master’s degree and a Ph.D. from the University of Illinois.