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Boston Fed's 'Working Cities' challenge

Wednesday, May 08, 2013, 7:33pm
(NECN) - The Federal Reserve Bank is not known for holding contests - but it's holding one right now.

The Fed is holding a contest called the "Working Cities" challenge, which is an attempt to help 20 cities in Massachusetts recover faster from the recession.

Prabal Chakrabarti, vice president of the Boston Federal Reserve for Community, joined NECN Business with more on the contest.

"It's an initiative with two goals. The first is to advance collaborative leadership in the small cities of Massachusetts. The second is     to support efforts that transform the lives of lower income people living in those cities," he says.

Watch the attached video for the complete interview.
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