What, the Federal Reserve extending HUD?

What would you think if asked about the mission of the Federal Reserve?  What would be your answer to the suggestion of inviting the Federal Reserve to assist HUD and it’s Affirmatively Furthering Fair Housing, AFFH, mission issues described below?  (Be mindful, however, of the stated mission on the About the NY Fed; “Working within the Federal Reserve System, the New York Fed implements monetary policy, supervises and regulates financial institutions and helps maintain the nation’s payment systems.”)

• Research on Gentrification and Neighborhood Change exploring the causes, consequences, and policy and how to promote inclusive neighborhoods and equitable development.  Not recommended, but you can watch the 8 hour event:
  
• Affordable Housing in High-Cost Cities and how municipalities balance the need for affordable housing at all income levels, and what are the implications and opportunities in communities, and the appropriate balance of subsidy and tax dollars for low-, moderate-, and middle-income development, and what is an appropriate income mix for a healthy community?
• Research aimed to bridge the gap between research, policy, and practice on the issue of economic mobility
• “Distressed Residential Real Estate: Dimensions, Impacts, and Remedies” and the impact of foreclosures on crime, renters, and school mobility
• Community affairs research on factors that determine who receives a loan modification

You can find the Federal Reserve participating and sponsoring these types of events, sometimes as a cosponsor with HUD by searching for keyword “federal reserve” on the NY Furman Center website at http://furmancenter.org/.

Also, some of the Federal Reserve’s activities are disclosed in the following resumes.

Stephanie Rosoff

Stephanie Rosoff previously was Associate Director of Community Development at the Federal Reserve Bank of New York.

Eric Stern

Eric Stern previously served as a Senior Policy Analyst at the Federal Reserve Bank of New York focusing on housing