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. To support these efforts, community development staff conduct research and outreach to understand community conditions, financial access, and economic differences.

The insights we gain about the economic and financial conditions of LMI people and places also help to inform Fed leaders on monetary policy decisions that support a strong economy. The Fed has a mandate from Congress to promote maximum employment and stable prices. To meet these policy goals, we must understand how people from all walks of life experience the economy and how policy decisions affect their experiences.

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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.