The latest from the Fed’s community development teams and their collaborators.
Worried woman sits at wooden kitchen table
When making decisions about distributing emergency pandemic-relief funds to distressed homeowners, state officials are using a new tool to identify where those funds are needed most.
A growing number of states and cities have passed laws that say low-income tenants have the right to counsel when they’re facing eviction. Most come with funds to implement the right to counsel. 
Pine Ridge Reservation
"In our 35 years extending credit to Native communities, not once has a bank invested in our work. Instead, we’ve relied on CDFI Fund grants, foundations, and philanthropic investors," says Tawney Brunsch, executive director of Native CDFI Lakota Funds.
“We were devastated when the pandemic hit. Nobody knew what to do,” says small business owner Joseph Wang. Read about how a CDFI helped Wang and his business partner in Philadelphia’s Chinatown find a lifeline right in their own backyard.
Own a business with 500 employees or less? Share your experiences with credit access this past year to help inform policy conversations and decision-making. The Federal Reserve Small Business Credit Survey is open through November 19, 2021.
Here’s what 345 Community Development Financial Institutions told the Federal Reserve about their financial well-being throughout the COVID-19 pandemic, operational gaps and challenges, and effects on clients and communities they serve.
How much could US state gross domestic product (GDP) grow by closing racial and gender gaps in the labor market? We simulate how much GDP would have increased annually by eliminating gaps in earnings, hours worked, educational attainment, and employment.
The Fed’s community development experts share the inspirations and motivations behind their work.
I feel extremely blessed to work with a lot of smart people with a depth of knowledge in small business, workforce development, and housing, all with a lens to help communities.
Cleveland Fed
[A small candy store owner in Richmond Heights] had six children, and at one point she said, ‘This business is like my seventh kid!’ I could tell she was exhausted yet wired to work.
Cleveland Fed
[Fred Rogers] gave me a small book, a trolley, and a card, and he wished me luck. The wishes and luck are blessings I carry with me into places and spaces where I hope to make positive changes.
Board of Governors
The United States economy needs to work for everyone. We commit to doing our part, both in the work we produce and in how we engage with people and issues relating to race and racial inequity in America.