The Fed Is Worried About the Rent

(RECAP: When you think of the Fed, you think of Janet Yellen, or monetary policy, or the interest rate on your mortgage. Can we interest you in a little affordable housing? Patrick Harker interested us. The president of the Federal Reserve Bank of Philadelphia announced last week the launch of a new research initiative on how poverty affects the economy. The subject, Harker said, is important from a moral perspective, but also because investments to alleviate poverty can generate returns elsewhere in the economy.)