Watch CBS News

Minnesota Housing Chief Tapped For New Federal Reserve Panel

ST. PAUL, Minn. (AP) — A Minnesota agency commissioner will have a voice on a new advisory council of the powerful Federal Reserve Board.

Minnesota Housing Finance Agency Commissioner Mary Tingerthal was appointed Tuesday to a 15-member panel that will offer input on how federal monetary policy affects the needs of low- and middle-income consumers. The Federal Reserve is best known for setting interest rates that have bearings on monthly mortgage payments and savings account earnings.

Tingerthal says the panel will offer on-the-ground perspectives about affordability, vacancy rates, ownership stability and ethnic disparities in housing. The Community Advisory Council will meet twice per year.

(© Copyright 2015 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.