Powell Says Racial Inequality Holds Back the Economy

The transcript discusses the Federal Reserve's focus on climate change and inequality, despite these not being part of its traditional mandates. It explains how climate change poses financial risks that banks must manage and highlights persistent economic disparities. The Fed acknowledges its limitations in directly addressing these issues, emphasizing that they are primarily the responsibility of elected officials. The transcript also touches on the visible impact of the pandemic on homelessness, urging the Fed to consider marginalized individuals in its monetary policy decisions.

In what ways does the Federal Reserve incorporate the concept of maximum employment into its monetary policy?

How does the Federal Reserve perceive its responsibility towards the homeless population during the pandemic?