Bernanke focuses on communities

By ASSOCIATED PRESS
Published May 4, 2006

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Reviving economically distressed communities takes teamwork between the government and private developers and a creative vision of not only a place to live, but also places to work and shop, Federal Reserve chairman Ben Bernanke said Wednesday.

Weaving together this economic and social fabric gives a community's residents and businesses important roots, he suggested in remarks to a summit on economic development.

"Public, private and nonprofit development partners must be increasingly innovative in their work," Bernanke said.

In his remarks, Bernanke did not talk about interest rate policy or the state of the U.S. economy.