Insights | Federal Reserve of Boston
Neal helped the FRB pilot a process to engage Residents directly in household conversations, supplementing the Fed’s economic survey data with feedback and stories from households. This work will inform strategy in closing the racial wealth divide in New England.
The Fed is known primarily for setting the prime interest rate and their ‘dual mandate’ (maximize employment and ensure price stability.) They also fulfill the Community Reinvestment Act by evaluating and sharing community development techniques with member institutions and funders who invest in the nonprofits serving Residents in each of the 12 regions of the Federal Reserve System.
Closing the racial wealth divide is complex and will take a long time. No one entity can solve it, but there are good people at the Fed dedicated to this goal and to ensuring access to prosperity for all, enabled by engaging with the community to learn what residents need.
