This year, the Federal Reserve has raised interest rates four times. The Fed did so to fight 9-ish percent inflation that's making life a lot more expensive. But there's a trade-off: When interest rates go up, jobs take a hit. This week on Into It, Vulture's Culture Podcast, Hannah Rosen looks at Time's Up and Me Too.
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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