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Fed chairman says central bank concerned about rural poverty

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WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the U.S. economy overall is strong but many rural areas are falling farther behind.

Powell says unemployment in the poorest rural countries is more than double the national average last year, while those employed or looking for jobs in their prime working years has increasingly lagged during the current expansion.

To address this problem, Powell says the Fed is supporting a number of initiatives ranging from sponsoring regional forums to spur rural economic development to supporting efforts to advance internet access in low-income rural areas.

In comments Thursday to a rural housing conference, Powell says the Fed is committed to pursuing ways to ensure that the current economic upturn benefits areas that have been left behind.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

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The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
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Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
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