In 2020, the Federal Reserve is surveying government agencies, nonprofits, financial institutions and other community organizations serving low- to moderate-income (LMI) geographies in the United States. In the latest “External LinkPerspectives from Main Street” report:
- 65% of organizations surveyed in August indicated demand for their services increased since early June; 42% noted a corresponding decrease in their ability to provide services.
- Over a quarter of respondents (27%) indicated their entities could operate for less than six months in the current environment before exhibiting financial distress.
Year-round, the Fed works to foster economically resilient communities. Gathering actionable information is especially important during this unprecedented time.