APR 22, 2024 JLM 72°F 06:08 PM 11:08 AM EST
Fed officials expect rate hikes to hurt Blacks and Hispanics more

Federal Reserve officials expect that their campaign to bring down inflation will be especially painful for black and Hispanic Americans.

The minutes from the Fed’s meeting in December contain the stark admission that rebalancing the labor market by reducing demand for workers is likely to have a racially disparate impact on employment.

“In the context of achieving the Committee’s broad-based and inclusive maximum-employment goal, a number of participants commented that as the labor market moved into better balance, the unemployment rate for some demographic groups—particularly African Americans and Hispanics—would likely increase by more than the national average,” the minutes report.

Historically, the black unemployment rate has often been twice that of the white unemployment rate. 

This changed during the Trump administration. The black unemployment rate fell to its lowest level ever and the racial gap in unemployment narrowed dramatically.


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[Anonymous] 13:43 10.01.2023
Biden’s policies hurt EVERYONE! Are you f’ng kidding me? He’s a train wreck!
Rhoda Wright 08:22 10.01.2023
Trump 😇always
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