But sometimes a research paper or a speech doesn’t give you a true picture of what the foreclosure crisis really looks like. When I began my role as a Governor, I travelled to the 12 Reserve Bank Districts to see firsthand what was happening across the country. It was an eye-opening experience – one that has informed my perspective as a Governor.
And these stories from around the country can help provide the same type of context for researchers and policymakers. Here at the Federal Reserve we are learning more each day about the complex task of stabilizing communities in the wake of the crisis, and research and analysis of what is working is critical.