Rep. Ayanna Pressley On How The Fed Can Fight Racial Inequality
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 20 August 2020
⏱️ 34 minutes
🧾️ Download transcript
Summary
In the United States, Black Americans have experienced persistently higher levels of unemployment than their White counterparts. While the Fed has focused on aggregate unemployment levels, racial disparities has historically not been a major focus. On this episode, our guest says it should be. Massachusetts Representative Ayanna Pressley argues that monetary policy can and should be a tool of ending racial inequality. She discusses the history of this idea, and how it can work in practice. Pressley also talked to us about progressive economic policies for the future.
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Transcript
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| 0:00.0 | Osage County, Oklahoma is getting a lot of attention right now. |
| 0:04.4 | It's the setting of Martin Scorsese's latest film, |
| 0:07.8 | Killers of the Flower Moon. |
| 0:10.0 | The movies based on a book about the 1920s Osage murders, |
| 0:14.1 | when white men poured into Osage County |
| 0:16.4 | and killed Osage people for their oil wealth. |
| 0:20.1 | I'm Rachel Adams Heard, the host of InTrust, a podcast from Bloomberg and I Heart Media. |
| 0:26.8 | For over a year I was reporting a different story about other ways white people got |
| 0:32.1 | Osage, land, land and wealth and how a prominent ranching family in Osage County became one of the biggest landowners here. |
| 0:40.0 | Their ranching empire was built on land that at the turn of the century was all owned by the Osage Nation. |
| 0:47.0 | So how did they get it? |
| 0:49.0 | Listen to the award-winning podcast, Trust on the I Heart Radio app Apple |
| 0:55.3 | Podcast or wherever you get your podcast. Hello and welcome to another episode of the Odd Lots Podcast. I'm Tracy Allaway. |
| 1:15.0 | Tracy Alaway. |
| 1:18.0 | Tracy, one of the really sort of tragic or frustrating aspects of this current crisis that I think about a lot is how good arguably the economic situation was for the labor market right on the eve of the crisis. |
| 1:37.0 | The multi-decade lows in unemployment rate, wages had just started to pick up, basically right before this hit a lot of things that people had wanted to see for a long time started to seem like they were materializing. |
| 1:50.0 | Yeah, by a lot of measures, I guess we were at well nearly at full employment, but I'm not sure it's tragic |
| 1:57.7 | Maybe ironic I guess like you wouldn't have wanted to go into the crisis with the economy already fragile right |
| 2:06.2 | True that's well put but I do think there was just a lot of frustration at you know how slow it was had this, you know, we had the crisis in 2008, 2009, and then it just took |
| 2:16.7 | years and years and years to get back to something that, you know, economists would have called |
| 2:22.2 | full employment. Yeah, I think that's right. that you've pointed out before |
| 2:23.0 | that's right and I think you pointed out before that the danger with sudden |
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