Review

This article was adapted from a speech given at the First Conference of the Monetary Stability Foundation, Deutsche Bundesbank, Frankfurt, Germany, December 5, 2002.

The authors show how banks can monitor their own standards and practices to meet the obligations of the Equal Credit Opportunity Act—that is, by examining if their loan decisions are fair and equitable to all.

Economist Kevin Kliesen shows how the 2001 recession was unusual in several respects—in some ways, the mildest on record—and examines some of its likely causes.

The St. Louis Fed has a long tradition of monetarism—focusing on the role of money and how much of it is out there. This article retools the way money in the economy is measured and notes what changed.