Fed Can’t Solve Racism But Leaders Must Speak Out, Bostic Says

Central bankers need to speak up about economic barriers prompted by racism and the need for inclusion and diversity, Federal Reserve Bank of Atlanta President Raphael Bostic said, a response to critics who see the work as a distraction from the Fed’s main goals.

“I hear this a lot in terms of the work we are doing at the Atlanta Fed that you are talking about these issues that the Fed can’t solve,” Bostic said as part of a virtual panel discussion hosted by the American Economic Association. “That’s true -- the Fed can’t solve them. But if we don’t ...