Federal Reserve Bank of St. Louis

What Is the Federal Reserve Bank of St. Louis?

The Federal Reserve Bank of St. Louis is one of 12 reserve banks in the Federal Reserve System (FRS). It is responsible for the eighth district, which covers Arkansas and parts of Illinois, Indiana, Kentucky, Missouri, Mississippi and Tennessee. Notwithstanding its headquarters in St. Louis, the bank has branch offices in Little Rock, Louisville and Memphis.

The St. Louis Fed likewise keeps up with the Federal Reserve Economic Database.

Understanding Federal Reserve Bank of St. Louis

The Federal Reserve Bank of St. Louis is responsible for executing the central bank's monetary policy by auditing price inflation and economic growth, and by managing the banks, bank holding companies, and savings and loan holding companies an inside its area. It gives cash to banks inside its district, and screens electronic deposits. Moreover, the bank's Community Development Advisory Council works with nearby networks to further develop credit access, limit dispossessions and revive neighborhoods.

As a result of its location in the American heartland, the St. Louis Fed advances itself as addressing the interests of "Central avenue America" instead of Wall Street or Washington. Thusly, its research and reports will generally zero in on what monetary policy means for residents who live and work outside major centers of banking and finance. During the 1960s, affected by University of Chicago economist Milton Friedman and the bank's prominent research director Homer Jones, the St. Louis Fed turned into the first to embrace the concept of monetarism, contending that central banks ought to direct monetary policy fundamentally to balance inflation. Around then, monetarism was viewed as a fringe theory, however it is presently accepted practice.

Federal Reserve Economic Data (FRED)

The St. Louis Fed has and keeps up with the Federal Reserve Economic Database (FRED). Users can download, graph, and track in excess of 767,000 US and international time series from in excess of 100 sources. A wide assortment of financial and macroeconomic data are accessible, for example, CPI, inflation, unemployment numbers, Treasury yields, and Fed balance sheet and government account data. FRED data can likewise be imported directly into Excel for analysis.

St. Louis Fed and the FOMC

The leader of the Federal Reserve Bank of St. Louis serves on the Federal Open Market Committee (FOMC) on a one-year rotating basis. The FOMC meets eight times each year to survey interest rates.

James Bullard is the leader of the Federal Reserve Bank of St. Louis. He got to work on April 1, 2008. Bullard is an economist and an adjunct teacher of economics at Washington University in St. Louis, who many know for his research work in economic theory and monetary policy.

Inside the Economy Museum

The headquarters in midtown St. Louis is home to the Inside the Economy Museum, an honor winning interactive show that presents and clears up fundamentals of the economy for average residents and high school understudies.

Bank notes printed by the Federal Reserve Bank of St. Louis are set apart with the letter H addressing the eighth district. H is likewise the eighth letter of the alphabet.

Highlights

• The Federal Reserve Bank of St. Louis is one of twelve reserve banks in the Federal Reserve System.
• The St. Louis Fed is home to the Inside the Economy Museum.
• The St. Louis Fed has been a strong advocate of monetarism, which is the conviction that central banks ought to direct monetary policy principally to balance inflation.
• Its region covers Arkansas and parts of Illinois, Indiana, Kentucky, Missouri, Mississippi and Tennessee.