Economy

Raphael Bostic, the Fed’s first Black branch president, says racism has economic impacts

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President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019.

Clodagh Kilcoyne | Reuters

The Federal Reserve has a role to play in ending systemic racism, in the view of the central bank’s first Black regional president.

In an essay on the site of the Atlanta Fed, where Raphael Bostic presides, he said the organization has multiple ways it can help in the battle for equality.

“I believe the Federal Reserve Bank of Atlanta, and the Federal Reserve more generally, can play an important role in helping to reduce racial inequities and bring about a more inclusive economy,” Bostic…



Source cnbc.com

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