In The Regional Economist: Tapering, Latin America, the Federal Budget and More

ST. LOUIS – The July 2014 issue of The Regional Economist, the Federal Reserve Bank of St. Louis’ quarterly review of business and economic conditions, has been posted online at www.stlouisfed.org/publications/re. In his column, President James Bullard examines tapering and other key topics in monetary policy. Other articles include:

• “Latin America: Challenges and Opportunities.” U.S. businesses that are considering trading with Latin America or investing there will find large differences between the region and the U.S., as well as large differences among the Latin American nations themselves. In this primer, the author assesses the progress being made in Latin America in job training, infrastructure, trade agreements, politics, macro stability and more.
• “Past, Present and Future of the Federal Budget.” Now that the turmoil over the federal budget has quieted down somewhat, it’s a good time to examine how spending and revenue have changed since the 1970s and are expected to change in the next 10 years. See where outlays are shrinking and where they are rising and how the tax burden is shifting from one group to another.
• “Working Part Time for Economic Reasons.” The unemployment rate has been declining significantly since the Great Recession ended; however, the ranks of those involuntarily working part-time have been declining at a slower pace. How does this situation compare with what happened after previous recessions?

Also in this issue:

• How inflation in the U.S., Japan and the euro area compare;
• Why economic mobility in Memphis is so low;
• The obstacles and opportunities for growth in India;
• Whether the elusive recovery in the U.S. is here to stay;
• A profile of Owensboro,Ky., where a wave of development, funded by both private and public sources, has recently been completed.
• Three pages of charts that cover major indicators, as well as the latest data on agriculture, commercial banking, housing permits, income and jobs.