NY Fed's Williams Cites Coordination Challenge in Community Development -- Market Talk

Dow Jones11-15

1645 ET - Despite trillions of dollars available from philanthropy and government grants, organizing the flow of resources to vulnerable communities remains a challenge, New York Fed President John Williams says at a conference hosted by the reserve bank. "What's missing is a holistic coordination and deployment of resources to get at the causes of the vulnerabilities and their interconnections," Williams says. His remarks cite a New York Fed initiative intended to connect capital sources to community needs. "We need to make the case to capital providers to view the benefits as interconnected, too," Williams says. (matt.grossman@wsj.com; @mattgrossman)

(END) Dow Jones Newswires

November 14, 2024 16:45 ET (21:45 GMT)

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His remarks cite a New York Fed initiative intended to connect capital sources to community needs. \"We need to make the case to capital providers to view the benefits as interconnected, too,\" Williams says. 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His remarks cite a New York Fed initiative intended to connect capital sources to community needs. \"We need to make the case to capital providers to view the benefits as interconnected, too,\" Williams says. 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