Sonya Waddell and Chen Yeh provide an update on credit market conditions, based on recent results of the CFO Survey and other surveys of borrowers and lenders. They also discuss the macroeconomic forces that shape the supply and demand sides of the market, including the current round of monetary policy tightening. Waddell is a vice president and economist and Yeh is an economist at the Federal Reserve Bank of Richmond.

Stephanie Norris explains the concept of social capital, its value in the economic development of communities, and the challenges of measuring it. Norris is a senior research analyst at the Federal Reserve Bank of Richmond.

Marina Azzimonti and Arantxa Jarque, director and associate director of the Center for Advancing Women in Economics, discuss the Center's recent launch at the Federal Reserve Bank of Richmond and the need for such an organization within the economics profession. Azzimonti is a senior economist and research advisor and Jarque is a senior policy economist at the Richmond Fed.