AFL-CIO Economist Wm Spriggs says racial disparities in employment argue against Fed rate increase
AFL-CIO Economist William Spriggs says racial disparities in employment argue against a Fed rate increase.
“Economists have convinced themselves there is little to explain about the persistence of the disparity in black and white unemployment rates, the ratio of which remains stubbornly at 2-to-1. … We don’t know what would happen if the nation maintained its commitment to full employment, because just as the black unemployment rates near parity with whites, our economic policy switches all reverse to slow the economy, increase unemployment and push blacks off the path to equality. The Fed needs to see that its policies are part of that problem.”
http://www.aflcio.org/Blog/Economy/Why-the-Fed-Isn-t-Close-to-Achieving-Full-Employment-and-Shouldn-t-Be-Discussing-Raising-Interest-Rates-the-Case-of-Black-Workers
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