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The Fed: Fed officials struggle to respond to litany of unmet needs of low-income community

Krisztian Bocsi/Bloomberg
Dallas Fed President Robert Kaplan

An illuminating moment of the Federal Reserve’s first town hall-style meeting with community development leaders in Dallas on Monday came near the end of the session.

An audience member wondered whether the U.S. central bank might provide funds for a bus service to ferry workers across town to a cluster of higher-paying jobs.

Dallas Fed President Rob Kaplan said he often talked with his Fed colleagues about such “structural issues” like inadequate transportation that shackle the U.S. economy.

Do these discussions “turn into dollars?” the questioner asked.

The answer: Well, no.

Congress has given the Fed a mandate to keep inflation stable and unemployment low, through its monetary policy.

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