An emerging priority for Powell Fed: The plight of the poor
November 24, 2019
WASHINGTON (AP) — Testifying to Congress this month, Federal Reserve Chair Jerome Powell sent a message seldom heard from his predecessors: That the Fed should consider the struggles of the lowest-income Americans in setting its interest-rate policies.
"We want to remind ourselves," Powell said, "that prosperity isn't experienced in all communities. Low- and moderate-income communities in many cases are just starting to feel the benefits of this expansion."
It wasn't the first time Powell had sounded that theme of late. At a news conference in July, he noted that pay had begun rising fastest f...
For access to this article please
sign in or
subscribe.
Reader Comments(0)