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Fed’s Meyer Deflects Questions

January 6, 1998

CHARLOTTE (AP) _ Federal Reserve Board member Laurence Meyer came to North Carolina to talk about affordable housing, but not economic policy or the course of interest rates.

Despite the persistence of reporters who waited nearly three hours to interview him Tuesday, Meyer deflected all questions about inflation, interest rates, or just about anything else except the topic of his remarks _ community development.

``I want to keep the focus on the events of the day,″ he said.

Meyer held his ground despite the determined efforts of reporters, who were prepared to ask him about such topics as Federal Reserve Chairman Alan Greenspan’s recent comments about the risks of deflation or a powerful bond market rally that has produced record-low long-term interest rates.

Meyer’s appearance was to announce that the Charlotte-Mecklenburg Housing Partnership Inc. had been selected as a chartered member of the national NeighborWorks network.

NeighborWorks, which includes 178 local community development organizations in more than 560 communities across the country, is anchored by the Washington-based Neighborhood Reinvestment Corp. Meyer is a board member of the Neighborhood Reinvestment Corp.

As a chartered member of the NeighborWorks network, the local agency will receive training, technical assistance and funding from Neighborhood Reinvestment Corp.

``I think it’s time to recognize the successes of the Charlotte-Mecklenburg Housing Partnership,″ he told about 60 people at a luncheon sponsored by the local nonprofit agency that works with low-income residents who want to buy homes. ``But there’s no room for complacency. There’s much work to be done.″

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