2019 Testimony
Arthur Lindo, Deputy Director, Division of Supervision and Regulation
Minority Depository Institutions
November 2019
("We understand the challenges inherent in providing access to credit and other financial services in traditionally underserved areas, and through the PFP program, we support an inclusive financial system. The Federal Reserve remains strongly committed to identifying and carrying through on all opportunities to support MDIs.")
Chair Jerome H. Powell
The Economic Outlook
November 2019
("People who live and work in low- and middle-income communities tell us that many who have struggled to find work are now getting opportunities to add new and better chapters to their lives. Significant differences, however, persist across different groups of workers and different areas of the country: Unemployment rates for African Americans and Hispanics are still well above the jobless rates for whites and Asians, and the proportion of the people with a job is lower in rural communities.")
Chair Jerome H. Powell
Semiannual Monetary Policy Report to the Congress
July 2019
("…the benefits of a strong job market have been more widely shared in recent years. Indeed, wage gains have been greater for lower-skilled workers. That said, individuals in some demographic groups and in certain parts of the country continue to face challenges. For example, unemployment rates for African Americans and Hispanics remain well above the rates for whites and Asians. Likewise, the share of the population with a job is higher in urban areas than in rural communities, and this gap widened over the past decade. A box in the July Monetary Policy Report provides a comparison of employment and wage gains over the current expansion for individuals with different levels of education.")
Chair Jerome H. Powell
Semiannual Monetary Policy Report to the Congress
February 2019
("…disparities persist across various groups of workers and different parts of the country. For example, unemployment rates for African Americans and Hispanics are still well above the jobless rates for whites and Asians. Likewise, the percentage of the population with a job is noticeably lower in rural communities than in urban areas, and that gap has widened over the past decade. The February Monetary Policy Report provides additional information on employment disparities between rural and urban areas.")