Two of the 12 Fed presidents at this point in history are black. "We cannot set a different interest rate for black Americans and white Americans," Jay Powell says. The Federal Reserve has made an emphasis on reaching out to African-American communities.
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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