Focusing on the Black unemployment rate would not capture disparities affecting other racial groups, officials say. “And that is huge.”ADFundamental to Bostic’s argument is that the country’s racial economic gaps were cemented over centuries. Jones also rejected the idea that the Fed cannot specifically target the Black unemployment rate. But even when the White unemployment rate was 3.1 percent in February, the Black unemployment rate hovered at 5.8 percent. Just within the Atlanta Fed, Bostic said his staff is looking at whether its reimbursement policies, which require personal payment up front, squeeze some employees more than others.

Source: Washington Post August 21, 2020 10:52 UTC