Federal Reserve Chairman Ben Bernanke called for more lending to people and small businesses in lower-income neighborhoods, saying they’ve been disproportionately hurt by the recession.
Many of the nation’s poorest communities were struggling before the downturn, Bernanke said at Fed conference on community development in Arlington, Va….
“Our economy is far from where we would like it to be, and many people and neighborhoods are in danger of being left behind,” Bernanke said.
Lending to creditworthy people and small businesses in troubled communities can stimulate economic activity that can generate local tax revenues, he noted.
