The devastation of unemployment affects a smaller number of people than inflation, he says. The difference is with inflation, they all get hit by inflation and there's no one to turn to for help, Obama adds. "I do know we cannot allow 9% inflation to continue in the American economy"
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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