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Health and economic effects of COVID-19 crisis have been especially painful for communities of color, New York Federal Reserve President John Williams said on Thursday.

“The structural inequality stifles economic growth,” Williams added. “Investments are needed in health, education and infrastructure for equitable recovery.”

Market reaction

These comments don’t seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Index (SPX) was up 0.9% on a daily basis at 3,265. Meanwhile, the US Dollar Index is posting small daily losses at 94.26.