Investing to Address Disparities

Tom Barkin

Speech from Federal Reserve Bank of Richmond

Abstract: A year ago, the economy was on the edge of a cliff. With the help of fiscal and monetary support, we are moving toward recovery. As we look toward better days, it’s important we don’t lose sight of the long-standing disparities the pandemic has exposed, including in education, connection to jobs, addiction and racial inequity. It is well worth exploring targeted support for primary caregivers to return to work or to job retraining programs, and the large number of displaced personal contact service workers need help transitioning to new occupations. Community colleges have an important role to play. We have to invest further in K-12 education, particularly in providing extra instruction and tutoring to students who have fallen behind in the virtual environment. Investments in education, employment and connectivity should be made with an equity lens. The Fed is trying to do its part to limit the increase in disparities from this pandemic through its new long-run policy framework.

Keywords: economic inequality and poverty; employment and labor markets (search for similar items in EconPapers)
Date: 2021-03-23
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