How your community experiences the economy—whether you and your neighbors can access employment, afford your home or small business expenses, or save for future goals—matters to the Federal Reserve. Through its community development function, the Federal Reserve builds relationships and regularly engages with communities in every region of the country. The first-hand insights and real-time impressions of economic conditions that arise from these community connections help inform the Federal Reserve's work.

During this special conversation with Governor Michael S. Barr, the Federal Reserve Board's oversight governor for consumer and community affairs, we will explore the importance of community engagement. Governor Barr discusses how community engagement helps Fed decisionmakers better understand Americans' day-to-day-economic experiences, concerns, and opportunities. Hear more about Governor Barr's background in community development and its role in his work over the years. Learn more about what he is hearing from communities and businesses around the country and the value he and the Fed gain from these community insights.

Every two years, the 12 Federal Reserve Banks survey community development financial institutions (CDFIs) about industry conditions. During this Connecting Communities webinar, participants learned more about what CDFIs have shared, including:

• How demand for CDFI's products and services changed over the past year and how it might evolve in the future,
• How CDFIs leverage public funding to accomplish their work, and
• What challenges CDFIs encountered in meeting demand and delivering on their mission.

In addition to sharing the CDFI Survey results, Federal Reserve staff connected with community development leaders and financial institutions to gain a deeper understanding of economic conditions affecting a broad range of consumers, individuals, and businesses. Attendees hear more about this outreach, including how the Federal Reserve engages with local community development lenders and what we've learned from several CDFI success stories.

2025 CDFI Survey Key Findings Report: https://www.richmondfed.org/region_communities/regional_data_analysis/surveys/cdfi/survey_results/cdfi_survey_key_findings_2025

CDFI Survey Results Over Time: https://www.richmondfed.org/region_communities/regional_data_analysis/regional_matters/2025/cdfi_survey_results_over_time

This Connecting Communities podcast explores key findings from the 2025 Community Perspectives Survey, which was conducted in April and May 2025. The survey captured the current conditions and future outlook of low- and moderate-income (LMI) communities across a range of critical issues, including:

Economic mobility

• Labor market trends
• Housing
• Financial stability
• Small business conditions
• Health
• Digital access
• Education

The session also explored the capacity and needs of organizations that serve LMI communities – focusing on their ability to deliver services, access resources, maintain staffing, and managing expenses.