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The Federal Reserve Bank building in St. Louis
The Federal Reserve Bank of St. Louis is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank. Missouri is the only state to have two Federal Reserve Banks (Kansas City also has a bank).
The St. Louis Fed is the headquarters of the Eighth Federal Reserve District, which includes the state of Arkansas and portions of Illinois, Indiana, Kentucky, Mississippi, the eastern half of Missouri, and West Tennessee. It has branches in Little Rock, Louisville and Memphis.
In the 1960s, the St. Louis Fed garnered a reputation as a maverick in the Federal Reserve System because of its espousal of monetarism. Spurred by bank president Darryl Francis and research director Homer Jones, the bank’s economists published research showing a direct relationship between the growth of money and inflation. Monetarist theories have since been adopted widely.
Today, the St. Louis Fed's database of over 3,000 economic time series, FRED (Federal Reserve Economic Data), is one of the nation's largest. The current president of the St. Louis Fed is James B. Bullard.
The current Palestinian Prime Minister, economist Salam Fayyad, once served on the staff of the Federal Reserve Bank of St. Louis, where he did early research on the American Divisia Monetary Aggregates.
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