Skip to Main Content


March 2019

More News

The Richmond Fed's Jeanne Milliken Bonds, Drexel University's Bruce Katz, and government and community leaders look at options for financing a project for St. Paul’s District in Norfolk, Virginia.

Speeches, Presentations and Public Appearances

Media Interviews and Commentary

Tom Barkin, Bank President

Kartik Athreya, Executive Vice President and Research Director


Regional Economists & Regional Executives

Selected Publications

Recent articles explore:

  • Explaining Consumer Financial Distress. At any moment in time, a large fraction of U.S. households have at least one loan account that is severely delinquent. However, most instances of financial distress are accounted for by 20 percent of households that are persistently distressed. New research from the Richmond Fed examines these facts and extends a standard model to help explain them. This work may more accurately inform public policy debates on consumer debt. For example, the research suggests that stricter bankruptcy laws might lead to a shift toward delinquency rather than reducing default.
  • Changes in Bank Capital Regulation Since the Financial Crisis. The latest issue of Economic Quarterly examines the history of U.S. bank capital regulation and the changes since the 2007–08 financial crisis. Government-imposed capital requirements date back as far as the mid-1800s and became stronger and more sophisticated in the 1980s with the first Basel Accords. Changes after the financial crisis have focused on controlling risk-taking at large banks while minimizing the regulatory burden on smaller banks.
  • How Likely Is a Return to the Zero Lower Bound? Also included in the new issue of Economic Quarterly is an article that estimates the probability that the federal funds rate will be at or below the zero lower bound over the next decade. Richmond Fed economists Thomas Lubik and Christian Matthes find a low chance of this happening in the near term, but the probability rises to between 15 percent and 30 percent over the longer term.

phone Contact Us

Laura Fortunato (804) 697-8196 (804) 698-0927 (mobile)