First Black Fed President Warns of Systemic Racism's Economic Toll.
'National upheaval coincides with shifting focus at central bank; ‘We are a different Fed,’ Atlanta’s Raphael Bostic says.
Raphael Bostic, the Federal Reserve Bank of Atlanta’s president, is shining a light on how economic and social upheaval have changed how the central bank talks and thinks about racial and economic inequality.
Mr. Bostic, an economist whose work has focused on racial disparities in access to capital, has helped lead those public discussions as the first Black president to lead one of the 12 regional reserve banks in the system’s 106-year history.
In an essay published after two intense weeks of national unrest following the killing of George Floyd while in police custody, Mr. Bostic framed injustice in moral and economic terms. “Systemic racism is a yoke that drags on the American economy,” he wrote.
In an interview, Mr. Bostic said many of these themes getting attention now have been the subject of long-running but mostly private discussions inside the Fed.'>>>
https://www.wsj.com/articles/first-black-fed-president-warns-of-systemic-racisms-economic-toll-11594027802?