The headline unemployment rate is deeply flawed as a measure of joblessness, Minneapolis Fed President Neel Kashkari said on Tuesday. “It’s not clear that something like black unemployment rate could be targeted to improve racial equity but the Fed should be open-minded on the issue.”
Meanwhile, Atlanta Fed President Raphael Bostic noted that bias is seen as a drag on the economic potential and said the Fed’s growing attention to the economic equity issues will not change. “The Fed can only do so much to improve economic outcomes across race, will require work by multiple parts of the government.”
Market reaction
These comments don’t seem to be having a significant impact on the greenback’s performance. As of writing, the US Dollar Index was down 0.1% on the day at 97.37.
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