The Federal Reserve's community development function promotes economic growth and financial stability for low- and moderate-income (LMI) communities and individuals by partnering with intermediaries, conducting research, and convening stakeholders.
The Federal Reserve Board's community development efforts focus on:
FedCommunities – The FedCommunities project focuses on addressing racial inequities and building strong, resilient communities through community development. FedCommunities is a collaboration between the Board and the 12 Federal Reserve Banks.
In 2020, the Federal Reserve System surveyed representatives of nonprofit organizations, financial institutions, government agencies, and other community organizations to understand the effects of COVID-19 on LMI communities and the entities serving them. The results of each survey were released as a downloadable report in October 2020.
Advance Together – A collaboration including the Federal Reserve Bank of Dallas to accelerate the progress of community partnerships in Texas that are addressing education and workforce challenges to help reduce barriers to economic opportunity.