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buy apple developer account :Amid national debate on race, Fedu0027s Bostic sees central bank role on inequality

appleaccounts2020-07-1758

A rising stock market alongside 11% unemployment has put the U.S. Federal Reserve in a quandary amid the national debate over racial and economic fairness: Is it helping fix the problems its top officials agree need fixing, or deepening divides between Black and white, and rich and poor? Atlanta Fed President Raphael Bostic, pressing what he hopes will be a transformative discussion about race and economic inequality, said in an interview with Reuters that fixing on questions like today's stock prices "kind of misses the reality" of how deep and longstanding the economic wedge is between U.S. minority populations and most whites. "We did not get to this point in like three days. So there is not going to be one silver bullet or one action" that dents problems like the roughly 10-to-1 gap between Black and white household wealth, differences in income that persist regardless of education levels, or a Black jobless rate nearly double that of whites before the pandemic. The reckoning needs to be deeper, grappling with a legacy of economic disadvantages from slavery through legal segregation, he said. Far from being leveled by market forces or government policy, those have compounded over time to the detriment not just of Blacks but of the country as a whole. "Economic models don,

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