It is keenly interested in promoting a clear-eyed use of the data that advances, rather than undermines, the statute’s objectives. To that end, the Federal Reserve will take opportunities such as this one throughout the year to publicly discuss the HMDA data - both what the data can tell us, and what they cannot.
While these results are promising, more must undoubtedly be done, and, as I understand it, more is indeed in the pipeline. We also need distributional data on leverage, net savings and investment across non-financial corporations, and it is good to know that a pioneering production process has been initiated, as has been presented in another paper during this conference.