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March 12, 2019

Powell: housing collapse did a lot of harm to low-income neighborhoods

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON — Federal Reserve Chairman Jerome Powell said Monday that the strong U.S. economy is masking the struggles of many families in lower-income communities.

Powell said those communities still have not recovered from the declines in home values that occurred when the housing bubble burst more than a decade ago.


 
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