Fed’s Bullard: US needs a “structural” response to the lack of Black economic progress
|St. Louis Federal Reserve (Fed) Bank President James Bullard called for a “structural” response to the lack of Black economic progress while speaking in a webcast to the Greater Louisville Chamber of Commerce in Kentucky on Wednesday.
Key quotes
Decades later, “what is very distressing and disturbing is that it does not seem to be getting much better...We are going to have to roll up our sleeves and get much better at this.”
“And I think without putting words in their mouth that is what protesters are saying – this has been going on too long and the solutions we have tried are not working.”
“Structural and historical factors continue to suppress the ability of Black Americans to accumulate wealth.”
“To promote racial economic equity we as a nation must consider structural or institutional responses.”
Market reaction
Bullard’s comments had little to no impact on the dollar trades, as the US dollar index staged a solid comeback from eight-day lows of 96.39 a day before.
The spot now trades near two-day high of 97.27, up 0.58% so far.
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