Wenli Li grew up in southeast China. After graduating from Tsinghua University in Beijing in 1990, she relocated to the United States, earning her doctorate in economics from the University of Minnesota in 1997. Since then, she has worked for the Federal Reserve System, first at the Richmond Fed, then at the Board of Governors, and then, since 2003, here at the Philadelphia Fed. Her specialty is consumer finance, especially bankruptcies and mortgages.

This article appeared in the Third Quarter 2020 edition of Economic Insights. Download and read the full issue.