A little more than a century ago, banking panics were not an uncommon occurrence, causing significant instability in the nation’s financial system. The solution was a confederation of independent, regional banks that, together with a Board of Governors in Washington, D.C., would represent the economic interests of businesses and citizens across the country. As the nation’s fourth-largest city and one of its banking centers, St. Louis was a logical choice to locate one of these banks.
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The St. Louis Fed On the Economy blog features relevant commentary, analysis, research and data from our economists and other St. Louis Fed experts.
Views expressed are not necessarily those of the Federal Reserve Bank of St. Louis or of the Federal Reserve System.