Princeton Author and Savings Expert Sheldon Garon To Speak At St. Louis Fed on ''''The New American Challenge: Learning To Save To Build Wealth

Princeton University’s Sheldon Garon , professor of history and author of the provocative 2011 book, Beyond Our Means: Why America Spends While the World Saves, will join national and international experts April 26 at the St. Louis Fed for an evening of engaging and lively discussion on the issue of saving in today’s economy.

Hosted by the St. Louis Fed’s new Household Financial Stability Project and Washington University’s Center for Social Development, the discussion, “The New American Challenge:  Learning To Save To Build Wealth, ” is free of charge and open to the general public.

The program will be held from 7-8:30 p.m. in the St. Louis Fed’s Gateway Conference Center, with a pre-event reception beginning at 6:15 p.m.  Free, secure parking in the Fed garage is being made available for this event.  Seating is limited.  Registration is required, but is easy to complete online at www.stlouisfed.org/HFS.

Garon will discuss the challenges facing the American household saver today with Ray Boshara, senior adviser at the St. Louis Fed and director of the Household Financial Stability Project; Michael Sherraden, the founder of the Center for Social Development and one of Time magazine’s “100 Most Influential People”; and William Emmons, assistant vice president and economist at the St. Louis Fed.  

Are Americans are up to the challenge of learning to save again? The speakers will address this and many other questions surrounding this timely topic, including:

• Is saving more money and accumulating more financial assets a realistic option for the average American family today?
• Can Americans buy a house, pay for their children's education, cover everyday needs and still accumulate a meaningful portfolio of financial wealth?
• With much less home equity to meet current and retirement needs, will savings be more of a necessity than a choice?
• At the same time, how do we responsibly pay down our debts to get our household balance sheets back in shape?
• Are we hurting short-term economic growth by building up savings and paying down debt–since this means we are consuming less?

The speakers will also take questions from the audience.

For more information, contact Jakita McBride at Jakita.m.mcbride@stls.frb.org or at 314-444-8439.