Federal Reserve

Jason Imel, a deck hand with Cargill, Inc., blows excess soybeans off the top of a river barge and closes the barge’s loading lids on Friday, Dec. 22, 2023, at Cargill, Inc.’s facility in East St. Louis. For the third time in five years, the U.S. will import more agricultural products than it exports. However, this year’s deficit is tracking to be around $20 billion, far more than last year’s $2 billion deficit.

Agricultural trade deficit could soon reach record highs. Is there cause for concern?

Will Bauer

Through November 2023, the United States has imported $20 billion more in agricultural products than it exported — putting the sector on pace to run a record deficit.

The Gateway Arch and St. Louis skyline is seen from a C-21 jet on Friday, Oct. 7, 2022, while flying over the Mississippi River.

Economy & Business

St. Louis’ economy is noticeably different a year into the Fed’s interest rate hikes

Eric Schmid

“The sectors of the economy where people are borrowing money, those are the sectors that have seen the most immediate effects of these interest rate increases,” said a local economist.

The report on the wealth gap relies on data from the Federal Reserve Board from 1983 through 2016.

Economy & Business

Fed program attempts to diversify economics field by going into classrooms

Eric Schmid

The program aims to make economics engaging and relevant for students of color who are historically underrepresented in the field.

The soaring costs of basic necessities such as food and housing are disproportionately hitting people with lower incomes. Here, a house is available for rent in Los Angeles on March 15.

Economy & Business

Inflation may be easing — but low-income people are still paying the steepest prices

Scott Horsley

The annual inflation rate eased somewhat in April, but not enough to meaningfully reduce the burden on lower-income Americans.

Several community groups are publicly opposing First Mid Bank & Trust’s proposed merger with Jefferson Bank & Trust, which was the site of civil rights protests in 1963 that have had a pivotal impact on the banking industry.

Economy & Business

Advocates drop opposition to Jefferson Bank merger after First Mid inks a community benefits agreement

Evie Hemphill

Fair lending advocates credit dialogue with First Mid Bank & Trust for leading to a community benefits agreement. Advocates had initially opposed First Mid’s planned purchase of Jefferson Bank & Trust.

Economy & Business

Advocates see red flags as First Mid seeks to acquire Jefferson Bank & Trust

Evie Hemphill

First Mid Bank & Trust’s application to purchase Jefferson Bank & Trust has St. Louis community groups pushing back. The groups want the Federal Reserve to deny the merger and conduct a fair-lending investigation.

St. Louis Federal Reserve Bank Economist Kevin Kliesen addresses the Rolla Regional Economic Commission on July 22, 2019

Economy & Business

St. Louis Federal Reserve Economist Predicts Slower Growth For The Region In 2020

Jonathan Ahl

ROLLA — An economist with the Federal Reserve Bank of St. Louis says there are some mixed signals coming from the region.Companies are starting to get…

Government, Politics & Issues

Rise Of The Super-Rich, Population Changes Drive Racial Wealth Gap, Report Says

Holly Edgell

A new report focusing on the racial dimensions of inequality in America connects the richest 10 percent of households getting richer and the wealth of the…

Economy & Business

Commentary: Temper The Economic Optimism For 2014

R.W. Hafer

The end of the year is always a time to take stock of what has transpired during the past year and what is likely to happen in the one about to begin.…

Government, Politics & Issues

Commentary: The upside of rising interest rates

R.W. Hafer

This article first appeared in the St. Louis Beacon, June 25, 2013: Looking at stock prices over the past few months, May 22 stands out. That was the…