Community Development in Challenging Times

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We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Today Mortgage Rates . Chairman Ben S. Bernanke at the Federal Reserve Community Affairs Research Conference, Arlington, Virginia Federal Reserve Neighborhood Stabilization Video Reports: www.federalreserve.gov Transcript (30 KB PDF): www.federalreserve.gov Chairman Ben S. Bernanke At the Federal Reserve Community Affairs Research Conference, Arlington, Virginia April 29, 2011 Community Development in Challenging Times [ Applause ] Thank you very much. I've heard a lot of good things about this conference. And as always, I'm very pleased to have the chance to meet with you. I've come pretty much to all these conferences -- certainly when I've been able to, and I've found them to be very useful. As you know, this meeting brings together researchers, community development professionals and public sector officials, to explore how best to strengthen struggling communities. Needless to say, that endeavor is now more crucial than ever. The past two years have been very difficult. Weak economic conditions at the national level have translated into hardships in many communities, at the same time that communities have fewer resources available for stabilization and revitalization. Considerable good work is going on nonetheless, and I'd like to offer a few examples of that today. At the national level, the economy is recovering at a moderate pace. In particular, the labor market has been gradually improving, and the unemployment rate has declined somewhat. But unemployment remains quite high ...

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