Community Development

Working from three cities—Cleveland, Pittsburgh, and Cincinnati—our mission is to promote the economic resilience and mobility of low- and moderate-income (LMI) people and communities throughout our District. To accomplish this mission, our team of economists, policy analysts, and outreach managers focus on

• listening, learning, and capturing insights from community members
• conducting in-depth research and analyses that address information gaps
• sharing our information through publications, programs, tools, and other resources
• convening key organizations that can leverage the insights and resources we provide  

The community development function is rooted in the Community Reinvestment Act (CRA) of 1977, which requires the Federal Reserve and other banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including LMI neighborhoods. We also help to foster a better understanding of market developments and economic conditions affecting LMI people and communities, a task which supports the Federal Reserve’s dual mandate of price stability and maximum employment. Economic inclusion is aligned with the maximum employment goal to ensure that all people who want to work can find a job and have the opportunity to advance economically. Within economic inclusion, we support racial equity, defined as just and fair inclusion in an economy in which all can participate, prosper, and reach their full potential, so that race can no longer predict life outcomes.

Check out our Program on Economic Inclusion for more data, analysis, and programming from across the Bank that advances racial and economic inclusion.

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We strive to understand all issues that impact LMI people and communities, but the bulk of our efforts focuses on three key areas: economic and workforce development, housing, and small businesses.