Tuesday, November 10, 2020

Biden-Harris Lists 'Federal Reserve’s Focus on Racial Economic Gaps' as a Top Priority

 The Biden-Harris transition team website lists four top priority areas:

  • COVID-19
  • Economic Recovery
  • Racial Equity
  • Climate Change
Of note, under the Racial Equity priority, the transition team lists as a goal to "Strengthen the Federal Reserve’s focus on racial economic gaps."

There is no detail as to what Biden-Harris expects the Federal Reserve to do. The Fed currently has two mandates, to keep price inflation and unemployment low.

A racial economic gap mandate would suggest that Biden-Harris expects the Fed through monetary policy or regulations to distort the economy in the direction of centrally planned manipulations that would favor economic activity for certain racial groups.

Of course, there is no call for policies that would actually, for example, benefit young black urban youth such as the elimination of the minimum wage which prevents many black youths from getting that all-important first job. And a shutdown of mandatory public education in the inner city where little is learned other than how to act in an uncivilized manner. No schooling would be better than what is "learned" in urban government schools.

But, instead, Biden-Harris apparently wants to teach minorities that government handouts and economic distorting regulations rather than hard work are the answers.



  1. Get ready for the turbulent 20s.
    We need a giant reset: free markets, limited government, deregulation, and a dollar as good as gold.
    If the Republicans don't embrace this agenda, they should pack their bags.

  2. You can't make this stuff up. A Biden-Harris reign will give The Babylon Bee stiff competition.