Fed sets up permanent community advisory council

Janet Yellen of the Federal Reserve
Janet Yellen

The Federal Reserve is setting up a permanent advisory group on community development, as the US central bank seeks to dispel claims it is focusing too much on financial markets and too little on middle-class families.

The new Community Advisory Council will meet with the Fed board twice a year to offer "diverse perspectives on the economic circumstances and financial services needs of consumers and communities", the Fed said on Friday.

It is the first permanent advisory group set up by the US c

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