TEN magazine cover

TEN Magazine

TEN is a quarterly publication that highlights the Kansas City Fed's research and practices through the experiences of everyday people from the region.

Winter 2015

  • Winter 2015 issue
  • Protecting identities: Improving security within the payment system

    Fraud and security weaknesses in the payments system can have direct and indirect costs, including consumers and businesses’ lack of confidence in the system.

  • A declining U.S. budget deficit

    The budget deficit topped the $1 trillion mark in 2009 and the record trend continued the next year, but by 2013, the deficit actually decreased as the economic influences that had caused the rapid increase changed course.

  • The housing boom, bust and recovery in the mountain states

    Near year-end 2005, the value of residential construction reached record highs, but two years later home prices fell in the mountain states of the Tenth Federal Reserve District. In 2014, the housing market has shown signs of recovery in those states.

  • Economic Policy Symposium 2014

    More than 100 central banks, policymakers, economists and academics gathered for the Federal Reserve Bank of Kansas City’s 38th Economic Policy Symposium in Jackson Hole, Wyo.

  • Community bank regulation: Intent vs. reality

    In spite of legislators’ and regulators' best intentions, customers who rely on smaller banks for access to credit are feeling the weight of regulatory burden, and bankers are pleading for relief.

Fall 2014

  • Fall 2014 issue
  • Credit conditions limit the housing recovery

    In the past, home sales have recovered modestly following recessions. The most recent financial crisis—and the aftermath of regulatory reform—however, have made the recent housing recovery more difficult.

  • Healthcare reform's role in the labor market

    Some economists say healthcare reform could increase the self-employment rate because it breaks the link between paid-employment and health coverage by introducing new avenues to purchase insurance.

  • Sawyer's Sway

    Many consider Jo Zach Miller, Jr., to be the first president of the Federal Reserve Bank of Kansas City; however, Charles Manville Sawyer was president when the Bank opened for business Nov. 16, 1914.

  • A central role in payments

    Industry collaboration and engagement is essential to any enduring strategic improvements to the U.S. payments system.

Summer 2014

  • Summer 2014 issue
  • Transporting Crude

    The United States could become the world’s largest oil producer by 2016, but most existing oil pipelines are unable to handle the added volume.

  • Mobile Money

    Although consumers in the United States largely have not adopted mobile payments, merchants think new technologies on the market will overcome current barriers.

  • After the recession: The continuing recovery of community banks

    While the health of community banks has recovered significantly since the financial crisis, commentary from bankers and industry analysts suggest they are still struggling.

  • Structure matters: The decentralized Federal Reserve

    The Federal Reserve’s founders understood that the long-term success and credibility of the institution would rely on its ability to gain support outside the Washington-New York corridor of political and financial interests.

Spring 2014

  • Spring 2014 issue
  • Blessing or Curse?

    New drilling methods have increased U.S. natural gas and oil production to an all-time high, but do resource booms lead to an economic "blessing" or a resource "curse"?

  • Assisting the Unemployed

    Federal Reserve economists determined that extended jobless benefits during the recovery increased the unemployment rate by half a percentage point.

  • Consumer Debt on the Rise

    When economic conditions worsened in 2007, Americans' grip on their wallets tightened. Now it looks like that trend has reversed as consumers are spending again.

  • President's Message

    The goal of zero interest rates and quantitative easing is to boost economic growth. But these policy settings also carry risks to long-term financial stability and stable growth.

  • 2013 Annual Report

    Listings of the Federal Reserve Bank of Kansas City’s officers, directors, advisory councils, roundtable groups and more, including a look at the organization’s inner workings.

  • Commitment to Diversity: 2013 Report to Congress

    The Office of Minority and Women Inclusion (OMWI), established in late 2010 as a result of the Dodd-Frank Act, continues a long tradition of diversity at the Kansas City Fed.

Winter 2014

  • Winter 2014 Issue
  • Putting the boom in multifamily

    Slowing population growth and the retirement of baby boomers could significantly dampen growth of single-family construction and boost long-term growth in multifamily housing.

  • The durability of durable goods

    One unexpected response to the decline in interest rates during the recovery was the weakening of consumer spending on durable goods.

  • Calculating the impact

    While several studies have noted the affect an aging U.S. population will have on future tax revenues, few have calculated the projected impact across states.

  • Honoring Robert L. Owen

    The Kansas City Fed dedicates new history exhibit that commemorates the Federal Reserve System’s 100th anniversary and the man who helped make it all possible.

  • President's Message

    The outlook for both the economy and community banks is brighter, but challenges remain.

Fall 2013

  • Fall 2013 Issue
  • Funding Transformations

    Renovation of forlorn urban properties can present fresh opportunities for many communities, but one large obstacle is finding capital to finance this transformation. Some communities are addressing this problem by creating loan pools.

  • Beyond the Federal Reserve Act

    Robert Latham Owen sponsored the Federal Reserve Act that President Woodrow Wilson signed into law one hundred years ago this December. Owen’s bill authorized the creation of the Federal Reserve System, the United States’ first central bank in more than 75 years.

  • The Shadow Labor Supply

    There has been a sharp rise in the number of people who indicate they want a job, but are not actively seeking one. These individuals are not considered unemployed and are not counted in the unemployment rate. Economists refer to this group as the shadow labor supply.

  • Slow Recovery

    Although many Americans have seen financial gains and many have gone back to work since the recovery began in 2009, low- and moderate-income individuals (LMI) and families face many economic obstacles.

  • Jackson Hole

    More than 100 central banks, policymakers, economists and academics gathered for the Federal Reserve Bank of Kansas City’s 37th Economic Policy Symposium in Jackson Hole, Wyo.

  • President's Message

    Kansas City Fed President Esther George reflects on 100 years of checks and balances in the Federal Reserve System.

Summer 2013

  • Summer 2013 issue
  • After the storm

    In response to the tornado disaster, Oklahoma’s State Banking Commissioner worked with the Federal Reserve Bank of Kansas City, the state Insurance Commissioner and local banks to meet the needs of Moore residents quickly.

  • Implementation of smart payment cards on the horizon

    Discover, American Express, Visa and MasterCard recently announced plans to switch to EMV-compliant, computer-chip payment cards starting in 2015. Less than 1 percent of the cards issued in the United States today, however, use embedded micro-chip technology, even though supporters say it’s less susceptible to fraud than magnetic-stripe cards.

  • U.S. exports in the global marketplace

    Export growth is an important source of aggregate growth in the U.S. economy. Indeed the importance of exports in contributing to U.S. economic growth has increased steadily over the past three decades, with exports nearly doubling as a share of gross domestic product.

  • 2013 Ag Symposium

    More than 200 people attended the Kansas City Fed’s 2013 Agricultural Symposium. The event featured several keynote speakers and discussion panels on topics that ranged from investing in agricultural infrastructure to profiting in a new policy landscape.

  • President's message

    In the midst of volumes of new rules and considerable change in the Fed's supervision program, Kansas City Fed President Esther George addresses whether the Fed is "on the right path?"

Spring 2013

  • Spring 2013 issue
  • Assessing the impact

    Most students don’t think about the money they borrow for college until they get the bill. And the bills are piling up. Estimates show that outstanding student loan debt in the United States has reached $1 trillion.

  • Polarizing Affect

    The labor force in the United States has shifted from middle-skill occupations to high-skill and low-skill occupations over the past three decades. Economists call this shift in the composition of occupations “job polarization.”

  • Stabilizing the economy

    State and local officials have sought to stabilize local economies by diversifying the mix of industries in their regions. Economic theory predicts that industrial diversity can reduce economic volatility; however, views vary on the effects industrial diversity has on long-term growth.

  • President's Message

    Kansas City Fed President Esther George addresses the importance of Federal Reserve bank independence and the challenges of monetary policy.

  • 2012 Annual Report
    Listings of the Federal Reserve Bank of Kansas City’s officers, directors, advisory councils, roundtable groups, and more, including a look at the organization’s inner workings.
  • Commitment to Diversity: 2012 Report to Congress

    The Office of Minority and Women Inclusion (OMWI), established in late 2010 as a result of the Dodd-Frank Act, continues a long tradition of diversity at the Kansas City Fed.

Winter 2013

  • Winter 2013 issue
  • Brick by brick
    Dozens of cities and counties across the country have started land banks in the last decade to address urban blight.
  • Persistent Differences
    In his recent research, Kansas City Fed economist Jordan Rappaport says the correlation between jobs growth and unemployment declines is not necessarily true for all metropolitan areas.
  • Changing commerce
    Person-to-person payments developed from the simple market principle of supply and demand. Although consumers prefer some new methods of person-to-person payments, the check remains a relevant method in the United States.
  • Community Banking Conference 2012
    Despite the changing regulatory environment, community banks’ resiliency and ability to adapt gives them opportunity to compete in today’s big-bank climate.
  • Where job and life converge
    With a large swath of the Great Plains and Mountain States falling within the borders of the Tenth Federal Reserve District, the Kansas City Fed has emerged as a leading resource of agriculture-related economic research.