New Bill Would Mandate Federal Reserve To Promote “Racial And Economic Justice”
A new bill would extend the Federal Reserve’s mandate to promote “racial and economic justice,” prompting concerns as to whether this would lead to discrimination.
“H.R. 2543 would expand the Federal Reserve’s existing dual mandate of maintaining price stability and full employment to focus on promoting “racial and economic justice in borrowing, housing, and lending,” reports Valiant News.
If the bill is passed, the Fed would be responsible for maintaining “racial equity,” which would potentially create a two tier economy, one for white people and another for non-whites in America.
“In effect, the passage of this law would make racial equity an integral part of the Fed’s mandate,” writes Jose Nino.
As we previously highlighted, the Fed encouraged Americans to combat soaring meat price inflation by swapping turkeys for soybean products during Thanksgiving.
Biden administration loyalists have run cover for the Federal Reserve by blaming soaring inflation on everything from failure to properly condemn January 6 to nationalism itself.
Earlier this month, the Fed announced its “biggest interest rate hike in more than a quarter century,” although the three-quarters of a percentage point raise brings the current 1.5%-1.75% rate nowhere near the 20% rate enacted by Paul Volcker in the early 1980’s.
The Biden administration has relentlessly denied that the country is heading for a recession, despite a cost of living crisis and multiple other financial indications that this is about to happen.
PRESS SEC: “Right now, we don’t see a recession right now. We’re not in a recession right now. Right now we’re in a transition where we are going to go into a place of stable and steady growth.” pic.twitter.com/GhSdyUUdE4
— Breaking911 (@Breaking911) June 21, 2022
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Mon, 06/27/2022 – 08:19