Articles by Federal Reserve Community Development Staff
The spread of COVID-19 and the many efforts to slow it are impacting communities throughout the nation. To best respond to this crisis, information is needed about the scope and scale of challenges in various communities. This report offers findings of a survey designed to collect information on the effects of COVID-19 on low- to moderate-income people and communities and the entities serving them. The survey was fielded by eight national partners and the Federal Reserve System's community development function.
From March 22 through May 14, 2021, the Federal Reserve fielded the 2021 CDFI Survey. Here's what 345 CDFIs said about their financial well-being throughout the COVID-19 pandemic, operational gaps and challenges, and effects on clients and communities they serve.
Imagine that racial and gender gaps no longer exist in the labor market. Would economic benefits extend beyond people no longer facing disparities?