Nonprofit Quarterly, May 5, 2021, Fed Chair Outlines Economic Challenges at Community Development Conference
With the coronavirus pandemic subsiding in the Unites States, many parts of the US economy appear to be rebounding. However, speaking via webcast at the annual Just Economy conference of the National Community Reinvestment Coalition (NCRC), Federal Reserve Chair Jerome Powell outlined many of the continuing challenges and answered many questions moderated by Jesse Van Tol, CEO of NCRC.
In his remarks, Powell noted that while at “a 30,000-foot level” the economy shows improvement, it was important to also look at “what is happening at street level. Lives and livelihoods have been affected in ways that vary from person to person, family to family, and community to community.”
The Federal Reserve chair notably added, “The economic downturn has not fallen evenly on all Americans, and those least able to bear the burden have been the hardest hit.”
