Surprising many, research has demonstrated that poor people can in fact save and build assets. They just need a well-structured opportunity, like the rest of us. This article summarizes this and other surprising findings from the last 15 years about how the poor save and what difference it makes to their balance sheets, their attitudes and behavior, and their prospects for moving up the economic ladder.
Lyn E. Haralson
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Fed in Print: An index of the economic research conducted by the Fed.