The severe economic effects of the coronavirus have shed light on many financial difficulties facing workers and households. One dilemma that has been increasingly problematic during the pandemic is known as the “benefits cliff.”
Federal Reserve Banks are working to raise awareness of this situation and find solutions in partnership with community organizations and government entities that are involved with workforce development.
Kansas City Fed Senior Community Development Advisor Steven Shepelwich is helping lead these efforts in the Tenth District and is part of a broader Federal Reserve System team. Recently he provided some background on the issue and outlined some of the initiatives underway.
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