This year, the Federal Reserve has raised interest rates four times.

The Fed did so to fight the 9-ish percent inflation that's making life, groceries, gas,

cars, furniture, all the things a lot more expensive.

But there's a trade-off.

When interest rates go up, jobs take a hit.

The Fed talks about this trade-off all the time.

There is a thing they talk about far less.

Who is going to lose jobs?

Black Americans face twice the unemployment as white Americans, no matter what kind of

an economy we have, a booming economy, or a recession.

This is not something the Fed talks about all the time.

Although these conversations are happening at high-level meetings and at dinners.

The sort of agreed upon vibe was one of just feeling really, really bad about it.

Coming up on today, explained the devil's bargain we make to fight inflation.

And we get to ask a Federal Reserve being president whether we can do anything other than

feel really, really bad about it.

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