Is the Federal Reserve aware of the challenges that I and others in my community face? Does the Federal Reserve take these issues into account when developing national policy?
The Federal Reserve System is composed of 12 regional Reserve Banks throughout the country and the Board of Governors in Washington, D.C. This structure enables the Federal Reserve to gather information from a wide and diverse range of communities.
Each Reserve Bank has a division, department, or group that focuses on regional community development issues, with a particular emphasis on serving low- and moderate-income communities and populations. The people on these teams work within their communities by promoting cooperation among community organizations, financial institutions, government officials, and academics; educating the public about financial issues; and advising policymakers, community leaders, and others about community development best practices.
This ground-level view plays an important role in formulating national policy, providing context to aid our understanding of the pace of the national economic recovery. In addition, community development staff have direct contact with homeowners, bankers, small business owners, community advocates, and local government leaders, who often see trends manifest locally before they hit nationally.
The Federal Reserve's Fed Listens initiative, which began as part of the 2019–20 monetary policy framework review, involves events that allow policymakers to engage directly with a broad range of stakeholders in the U.S. economy. In 2025, at 10 Fed Listens events at Reserve Banks around the country, policymakers heard from a wide range of organizations, including workforce development organizations and community colleges, as well as retirees, union members, small business owners, residents of low- and moderate-income communities, and others.
Related Information
Regional Reserve Banks' Community Development Information