The Hill, May 3, 2021, Recovery slower among low earners, racial minorities: Powell
The economic recovery from the COVID-19 pandemic has been slower for low earners and racial minorities, exacerbating inequality even as it gains steam, Federal Reserve Chairman Jerome Powell said Monday.
“While the recovery is gathering strength, it has been slower for those in lower-paid jobs,” he said at a National Community Reinvestment Coalition event on the “just economy.”
Among the top quarter of earners, just 6 percent were unemployed in February, he noted, while the figure was 20 percent among the lowest quarter.
