Event

Debt: When it Helps, When it Hurts, What it Could Do to Build Household Wealth

June 09, 2022

On Thursday, June 9, the Federal Reserve Bank of New York, the Federal Reserve Bank of St. Louis, and the Aspen Institute Financial Security Program hosted a hybrid event on the role of household debt in building wealth. The event featured contributors to the book, “The Future of Building Wealth,” and showcased research and solutions aimed at mitigating burdensome and wealth-depleting debt, while improving the use of wealth-building debt.

The event explored the role policymakers, philanthropists, and capital providers can play in improving access to capital as a tool to building long-term stability, including access to loans for higher education, starting a small business, or purchasing a home.

watch the event

 

Event Details

Date & Time
June 9, 2022
2:00pm - 4:30pm EDT (Reception to follow)

Location
Federal Reserve Bank of New York
Auditorium
33 Liberty Street
New York, NY

Audience

This hybrid event is open to the public and media. Registration for attending either in-person or virtually is available through the registration link. All remarks are on the record and the event will be livestreamed with a recording to be made available afterwards. For media inquiries, please contact Ellen Simon at ellen.simon@ny.frb.org.


Agenda
Agenda
2:00pm-2:05pm Welcome Remarks

David Erickson, Head of Community Development, Federal Reserve Bank of New York
2:05pm-2:15pm Keynote

Joanna Smith-Ramani, Managing Director, Aspen Institute Financial Security Program
2:15pm-2:45pm Interview

Moderator: Mae Watson Grote, Founder and Chief Executive Officer, Change Machine

Lynnette Khalfani-Cox, Founder, The Money Coach®

Frederick F. Wherry, Director, Debt and Dignity Network
2:45pm-3:25pm Lifting Innovations

Moderator: Joanna Smith-Ramani, Managing Director, Aspen Institute Financial Security Program

Vishal Jain, Vice President, Head of Financial Wellness Strategy and Development, Prudential Financial

Sid Pailla, Founder and Chief Executive Officer, Sunny Day Fund

Bryan Young, Co-Founder and Chief Executive Officer, Home Lending Pal
3:25pm-3:35pm Break
3:35pm-4:15pm Capital to Solutions

Moderator: Jonathan Kivell, Director of Community Investments, Federal Reserve Bank of New York

Don Baylor, Co-Head of Community Impact and Managing Director of Services, Lafayette Square

Wole Coaxum, Founder and Chief Executive Officer, Mobility Capital Finance, Inc. (MoCaFi)

Signe-Mary McKernan, Vice President, Center on Labor, Human Services, and Population, Urban Institute

Sarah Morgenstern, Venture Partner, Flourish Ventures
4:15pm-4:25pm Call to Action

Ray Boshara, Senior Advisor, Institute for Economic Equity, Federal Reserve Bank of St. Louis

Ida Rademacher, Vice President and Executive Director, Aspen Institute Financial Security Program
4:25pm-4:30pm Closing Remarks

Dyvonne Body, Community Development, Federal Reserve Bank of New York
4:30pm Reception

Speakers

Don Baylor
Co-Head of Community Impact and Managing Director of Services
Lafayette Square


Dyvonne Body
Community Development
Federal Reserve Bank of New York


Ray Boshara
Senior Advisor, Institute for Economic Equity
Federal Reserve Bank of St. Louis


Wole Coaxum
Founder and Chief Executive Officer
Mobility Capital Finance, Inc. (MoCaFi)


David Erickson
Head of Community Development
Federal Reserve Bank of New York


Mae Watson Grote
Founder and Chief Executive Officer
Change Machine


Vishal Jain
Vice President, Head of Financial Wellness Strategy and Development
Prudential Financial


Lynnette Khalfani-Cox
Founder
The Money Coach®


Jonathan Kivell
Director of Community Investments
Federal Reserve Bank of New York


Signe-Mary McKernan
Vice President, Center on Labor, Human Services, and Population
Urban Institute


Sarah Morgenstern
Venture Partner
Flourish Ventures


Sid Pailla
Founder and Chief Executive Officer
Sunny Day Fund


Ida Rademacher
Vice President and Executive Director
Aspen Institute Financial Security Program


Joanna Smith-Ramani
Managing Director
Aspen Institute Financial Security Program


Frederick F. Wherry
Director
Debt and Dignity Network


Bryan Young
Co-Founder and Chief Executive Officer
Home Lending Pal


resources

Disparities in Debt: Why Debt is a Driver in the Racial Wealth Gap

101 Solutions for Inclusive Wealth Building

Aspen Financial Security Program Presentation

Visit the New York Fed's page on Community Development.

 


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