Fed’s Pianalto Says Renters Need More Access to Affordable Homes

Federal Reserve Bank of Cleveland President Sandra Pianalto said access to affordable rental housing programs should be expanded and simplified.

“For too many families, finding affordable rental properties in desirable neighborhoods remains difficult,” Pianalto, who has a vote on policy next year, said today in the text of remarks prepared for delivery at a conference on housing and inequality at the Cleveland Fed. The reserve bank said in an e-mailed statement last month that Pianalto will retire early in 2014, without specifying the date.

Pianalto, 59, is the longest serving of the Fed’s 12 regional presidents, having become leader of the Cleveland Fed in 2003. She joined the Cleveland Fed in 1983 as an economist in the research department after working as an economist at the Fed’s Board of Governors in Washington.

To contact the reporters on this story: Jeff Kearns in Washington at jkearns3@bloomberg.net; Mark Niquette in Cleveland at mniquette@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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