Why The Fed's Rate Hike Will Hit Black People Harder Than Whites

The Federal Reserve’s decision to raise its benchmark interest rate on Wednesday is bad news for black workers.

The move is expected to put downward pressure on job creation by raising borrowing costs throughout the economy. While the rate hike is a modest measure on its own, it sets the stage for a series of additional developments that stand to have a much bigger contractionary effect on the economy.

That will squeeze all American workers, since there will be less demand for...

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