For households, stability means predictably earning, saving, and meeting financial obligations. Financially stable, resilient households contribute to a sound economy and financial system. After all, consumer spending accounts for roughly two-thirds of America's gross domestic product. Moreover, the well-being of households is central to societal well-being and is clearly tied to the Fed's dual mandate of maximum employment and low, stable inflation.
Therefore, as households and communities contend with limited resources and persistent challenges, the Atlanta Fed Community and Economic Development team focuses on the structural barriers to economic opportunity, employment, and financial stability.
Workforce development is an integral part of those efforts. To address stubborn gaps in economic opportunity, the Atlanta Fed in October unveiled the Center for Workforce and Economic Opportunity.