21.5.10 - Fed's new worth

# Federal Reserve's push to ensure as many people as possible benefit from the recovery

1) the disproportionate impact of the pandemic on minorities

The average jobless rate in the first three months of the year was 15.5% for black people in the Los Angeles area.

But, national average for all groups is the 6.2%, below half of Black's average in LA.

 

On the other side of the country, the unemployment rate for Whites was just 3.5% in Atlanta

 

2) the current recovery is leaving some communities behind

Fed is embraced a much broader concept of full employment.

 

In the same way the European Central Bank has often had to account for a booming Germany and recession-wracked Italy, the Fed is now attuned to differences across the U.S.