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.