Let Markets Resolve Mortgage Crisis

As painful as it may be, letting the housing and mortgage markets sort out these problems on their own would be best for the economy in the long run. Large-scale government interventions are not necessarily the best policy responses, although those made truly needy by this crisis need to be helped. Read more.

Also in the July issue:

• Ethanol: Shucking the Hype
• St. Louis Fed Has New CEO but Same Monetary Policy | (See photos of our new president.)
• Need and the Need for Favors Motivate Foreign Aid Decisions
• Eighth District Population Growth Follows National Pattern
• Triple Whammy Fuels Economic Doubts
• Community Profile: Greenwood, Miss.
• Reader Exchange

Full issue.

To see what’s on the minds of our readers, check out the letters to the editor, or send a letter of your own.

Exploring Innovation in Rural Areas

Dyess, Ark., received a $42,000 grant to help restore this building. When completed, it will house the Johnny Cash Memorial and city offices.

Community leaders in Dyess, Ark., a small town of just over 500 people, took a lemon—an abandoned school building—and made lemonade by transforming it into a performing arts auditorium that is the centerpiece of their annual music festival. The spring issue of Bridges highlights the critical role this new auditorium plays in Dyess’ heritage preservation-based plan.

Other articles in the newsletter focus on affordable “green” housing, philanthropic organizations and the foreclosure crisis, and proposed rules designed to prevent unfair practices regarding credit cards.

A Closer Look, a supplement to Bridges, features a farmers market in Louisville that has had a far-reaching effect on several distressed neighborhoods.

For those of you interested in the results of a readership survey we sent out at the beginning of the year, here’s what you had to say.

St. Louis Fed’s Review: Monetary Policy Under Uncertainty

How do we approach uncertain economic times, and what do we learn from them? The July/August issue of Review features articles from the Bank's economic policy conference on that topic. One analysis by two European Central Bank economists studies “House Prices and the Stance of Monetary Policy” and their overall effect on the economy. Overviews of various models used by policymakers in a realm of uncertainty are also presented with expert commentaries and a panel discussion with Ben Bernanke, John Taylor and former Bank President William Poole.

St. Louis Fed Releases Review Part II

Review Part II is a supplementary issue of the Federal Reserve Bank of St. Louis Review. Unlike traditional Review issues, which include research from St. Louis Fed staff economists and visiting scholars, Part II publishes work from economists throughout the Federal Reserve System. In the first issue of Part II, Dallas Fed Economist Mark Wynne defines and assesses measures of core inflation. Also in the issue are articles from economists at the Cleveland Fed and Board of Governors. The Part II series will be published occasionally, alongside the regular bimonthly publication schedule for Review.

Poole Reflects in Bank’s 2007 Annual Report

Former St. Louis Fed President Bill Poole looks back at his eventful 10-year presidency in the Bank's 2007 Annual Report. In a final interview, Poole discusses the Fed's proper role during times of crisis, such as the turbulent economic events that took place during his tenure. He also shares his thoughts on the FOMC's communication policies and on the evolving functions of Reserve banks. Also included are highlights from some of Poole's nearly 150 speeches.

Which Came First: Democracy or Growth?

Most economists agree that economic freedom promotes growth, but fewer agree that more political freedom improves economic performance as well. Chile of the 1970s and 1980s and China today are just two autocracies whose economies performed well. (Read more.)

Also in this issue:

• Neighborhoods That Don't Work
• Extra Credit: The Rise of Short-term Liabilities
• The Fed and Consumer Protection
• Skirting the Edge?
• A New Picture of Metro-Area Employment in the Eighth District
• Community Profile: Louisiana, Mo.
• Reader Exchange
  

 

Medicaid Financing, BERG Conference in Regional Economic Development

Kentucky's economy and broadband deployment, transferable tax credits in Missouri, and economic recessions in the Eighth District are all covered in the November issue of Regional Economic Development. This issue includes papers from the Business & Economics Research Group (BERG) conference. The October issue takes a thorough look at Medicaid financing, with papers from the St. Louis Fed's conference on that topic.