June 18, 2020 / 2:03 PM / 15 days ago

Fed's Kaplan: Systemic racism is 'all of our problem' - MarketPlace

(Reuters) - Federal Reserve Bank of Dallas President Robert Kaplan on Friday said systemic racism in the United States is everyone’s problem and addressing it effectively would improve the country’s economic performance.

“Yes, it’s all of our problems,” Kaplan said in an interview on public radio’s Marketplace. “And the challenge is there are a number of things that we’re going to need to do to address it. I’ve spent a lot of time here at the Dallas Fed talking about, in particular, improving early childhood literacy, expanding pre-K, improving educational attainment, as well as beefed-up skills training. Those would be some examples of real changes that we’re making progress on, but we can do much better. I think that would help close this gap and would give us better GDP growth as a country.”

Reporting By Dan Burns; Editing by Chizu Nomiyama

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