For immediate release: July 16, 2012
The Federal Reserve Bank of Atlanta today released its 2011 annual report, which provides an interactive narrative of four forces that shaped the economy in 2011. According to the Atlanta Fed, these forces include the ongoing process of economic adjustment including deleveraging, evolution of the labor market, a pervasive atmosphere of uncertainty, and monetary policy.
"All these influences were at work in a year of slow progress towards full economic recovery," said Dennis Lockhart, president and CEO of the Atlanta Fed, in his letter accompanying the annual report. "While uncertainty and factors in the labor market were largely negative, adjustment and adaptation along with monetary policy were forces working to bolster growth, especially in the long run." Lockhart continued, "Recoveries are never straight-line situations. There are ups and downs, twists and turns."
In addition to the narrative, the dynamic report features eight videos, which provide insights into key developments during the year. The report also allows readers to view and interact with many charts and includes pop-up definitions of important terms, such as "Operation Twist." The Atlanta Fed's 2011 annual report is available from the Bank's website at www.frbatlanta.org.
The Atlanta Fed is a part of the nation's central banking system, which Congress created in 1913. The Federal Reserve conducts monetary policy by influencing money and credit conditions in the economy in pursuit of full employment and stable prices, supervises and regulates banking institutions, and helps ensure that the nation's payments systems operate smoothly. The Atlanta Fed serves the Sixth Federal Reserve District, which encompasses Alabama, Florida, Georgia and sections of Louisiana, Mississippi and Tennessee. The Atlanta Fed participates in setting national monetary policy, supervises numerous commercial banks and provides a variety of financial services to depository institutions and the U.S. government.
