MNI POLICY: Fed Powell: Economy Strong, Growing At Solid Pace

By Jean Yung

     WASHINGTON (MNI) - Federal Reserve Chair Jay Powell said Tuesday U.S.

economic growth remained solid but highlighted challenges for rural communities

including higher unemployment, mortality and lack of access to financial

services. 

     "Today, data at the national level show a strong economy. Unemployment is

near a half-century low, and economic output is growing at a solid pace," he

said in remarks prepared for a forum hosted by the Hope Enterprise Corporation

in Itta Bena, Miss. 

     "But we know that prosperity has not been felt as much in some areas,

including many rural places."

     The Fed has a role to play in promoting community development through

research on skills training for workers, for example, and meeting with local

leaders to increase access to banks and transportation options for commuting to

jobs, Powell said. 

--MNI Washington Bureau; +1 202-371-2121; email: jean.yung@marketnews.com

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