Fed’s Rosengren Says Cities Program Helps in Ways Easing Can’t
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Federal Reserve Bank of Boston President Eric Rosengren said new community development initiatives to spur cooperation between cities and businesses can go beyond monetary easing as a way to support lower-income Americans amid an economic recovery that’s still incomplete.
The Boston bank’s Working Cities Challenge, a program to support lower-income residents in small Massachusetts towns, helps the economy in ways the “blunt tool” of monetary policy can’t, Rosengren said in an interview broadcast today on Bloomberg Radio’s First Word.