SOURCE: Federal Reserve Bank of Richmond

Federal Reserve Bank of Richmond

June 22, 2012 17:27 ET

Richmond Fed Publication Takes a Look at Innovation in the Financial Sector and the Broader Economy

RICHMOND, VA--(Marketwire - Jun 22, 2012) - Innovation is the key to long-term economic growth. But as the United States continues its slow recovery from the deepest recession since the Great Depression, restoring the country's "innovation economy" has taken on new urgency. The cover story in the latest issue of Region Focus examines how much economists know about what spurs innovation, as well as how policymakers might use that information to boost jobs and GDP. And in his column Richmond Fed President Jeffrey Lacker argues that we should be cautious about attempting to limit financial innovation.

Also in this issue:

Region Focus is the economics magazine of the Federal Reserve Bank of Richmond. It covers economic issues affecting the Fifth Federal Reserve District (the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia) and the nation.

For free copies of Region Focus, contact the Bank's Research Publications division at (800) 322-0565. The articles are available online at

Contact Information

  • Contact:
    David A. Price
    Senior Editor, Region Focus
    Federal Reserve Bank of Richmond
    Phone: (804) 697-8018
    Email Contact