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Federal Reserve Bank Site Explains Crisis

Web Site Breaks Down U.S. Financial Crisis

POSTED: Thursday, January 22, 2009

UPDATED: 11:46 am EST January 23, 2009

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The Federal Reserve Bank of St. Louis is trying to explain the current U.S. financial crisis on its Web site.

At www.stls.frb.org, viewers are able to access resources, read explanations of current financial events, and also view a timeline of the economy's downturn.

The Web site's timeline begins in 2007 with Freddie Mac's announcement that it will no longer buy the most risky subprime mortgages, and is updated through the current day with recent news releases.

The Federal Reserve Bank of St. Louis also offers viewers information on current financial trends. The Web site offers links to data showing international and national economic trends, as well as U.S. financial data.

The Web site also provides users with recent news stories related to the financial crisis, as well as Federal Reserve and Government Agency links, including links to an FDIC failed bank list and foreclosure resource centers.

If you're not a financial wizard, don't worry. According to The Associated Press, in the coming months the site plans to add glossary terms that will allow users to look up terms mentioned in news releases and stories that they might not be that familiar with.

The site also plans to add a section for frequently asked questions in the near future.

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