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Restoring Household Financial Stability Post Recession

Digging out of an economic crisis can be a lot more complicated than getting in to one and can take a lot more time, too.  While there are positive signs that we are climbing out of the recession, there is still considerable fallout, especially for young couples and recent college grads. 

Jobs are still hard to find for newcomers in the job market and college debt is overwhelming for many. The housing market decline, and resulting loss of wealth, was especially painful for young home owners. 

The Federal Reserve Bank of St. Louis has started a research initiative to help families rebuild their balance sheets as the economy recovers.  Federal Reserve Policy Officer Ray Boshara is the director of the bank's  Household Financial Stability Initiative and Assistant-Vice President Bill Emmons is the chief economist for the initiative.  They were Don Marsh’s guests on “St. Louis on the Air” to discuss lessons learned from the financial crisis and how people of all income levels can restore financial stability.

Also joining the discussion was Michal Grinstein-Weiss, Associate Professor of Social Work and Associate Director of the Center for Social Development at Washington University’s Brown School of Social Work.  She outlined the center’sRefund to Savings Initiative that encourages people to use their income tax refunds to build savings, one of the keys to financial stability.

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Mary Edwards is a producer for St. Louis Public Radio's broadcast program, "St. Louis Symphony."
Alex is the executive producer of "St. Louis on the Air" at St. Louis Public Radio.
Don Marsh served as host of St. Louis Public Radio’s “St. Louis on the Air" from 2005 to 2019, bringing discussions of significant topics to listeners' ears at noon Monday through Friday. Don has been an active journalist for 58 years in print, radio and television. He has won 12 Regional Emmy Awards for writing, reporting, and producing. He is the recipient of a Lifetime Achievement Award from the National Academy of Television Arts and Sciences, was inducted into the St. Louis Media Hall of Fame in 2013, and named “Media Person of the Year” by the St. Louis Press Club in 2015. He has published three books: his most recent, “Coming of Age, Liver Spots and All: A Humorous Look at the Wonders of Getting Old,” “Flash Frames: Journey of a Journeyman Journalist” and “How to be Rude (Politely).” He holds an honorary Doctor of Arts and Letters degree from the University of Missouri-St. Louis.