In 2024, the Federal Reserve Bank of Boston explored how technological advancements will impact the future of finance, and whether immigration could help address workforce shortages caused by New England’s aging population. It also covered how households are coping with the stress of rising prices, and what recent growth in cryptocurrency might mean for the stability of the financial system.

Our articles on those issues and more are among our Top Reads of 2024. Check out the stories below, listed in no particular order.

Boston Fed president visits Connecticut, Maine, New Hampshire, Vermont, Rhode Island, and Massachusetts cities

Boston Fed President and CEO Susan M. Collins met with business leaders, community advocates, and public officials across New England as part of her ongoing efforts to gather local economic perspectives. Collins spoke with residents about challenges facing the region, such as workforce shortages and the housing crisis, as well as opportunities for growth.

“How do you build resilience in communities? That’s about collaboration, (and) letting local people identify what’s really needed, and bringing people together.” – Susan M. Collins, president and CEO, Boston Fed

New England is aging. Can immigration help with workforce woes?

Immigrants and refugees are filling gaps in the workforce left as New England’s native-born population ages out of it – or leaves for opportunities elsewhere. Residents from two communities in Maine and Vermont share how their homes are evolving and their concerns for the future.

“Our old solutions just aren't working anymore. … We have to think about almost everything we (do) with new eyes.” –  Deac Decarreau, longtime resident of Winooski, Vermont

Stablecoins are growing rapidly. What does this mean for the stability of the financial system?

The stablecoin market has quickly expanded in recent years, becoming more intertwined with the traditional financial system. What does that mean for financial stability? Participants explored this key question at the first-ever Conference on the Financial Stability Implications of Stablecoins, hosted by the Boston and New York Feds.

“Stablecoins have grown very rapidly since 2020 … and they’re one of the few direct links between the crypto world and traditional finance. We want to understand the financial stability risks.” – Pablo Azar, New York Fed

Boston Fed’s 68th Economic Research Conference explores the ‘future of finance’

How could advancements in machine learning, data analysis, and artificial intelligence impact the future of financial services – and their everyday customers? That was the key question economists and financial experts explored at the Boston Fed’s 68th Economic Research Conference, titled, “The Future of Finance: Implications of Innovation.”

“We’ve got to think holistically about AI. We’ve got some red flags, and we should pay attention to those red flags … so that we can move safely into this next era.” – Adair Morse, University of California, Berkeley

How are households coping with higher prices?

How stressed are U.S. households about higher prices, and what strategies are families using to cope? A field note from researchers in the Boston Fed’s Regional & Community Outreach department uses national survey data to answer these questions.

“Concern (about) future price increases has decreased over the past few years – but not by as much as we may have anticipated, given how much inflation has come down.” – Michael Evangelist, Boston Fed senior policy analyst