Talman Smith is an economics reporter at The New York Times. In August, he wrote about what might happen if the US goes into a recession because of interest rate hikes. He looked specifically at how black workers would be affected by such a downturn. "In order to achieve price stability, at least in the short term, American society may require double-digit black unemployment"
The Federal Reserve knows raising interest rates disproportionately hurts Black people. It just doesn’t have any better tools, says the Minneapolis Fed’s Neel Kashkari.
This episode was produced by Miles Bryan, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Efim Shapiro, and hosted by Noel King.
Transcript at vox.com/todayexplained
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