Biden promises new Fed mandate on racial inequality

Joe Biden
Gage Skidmore

Joe Biden, the Democrat’s presidential nominee to face incumbent Donald Trump in the November US elections, is promising to create a third mandate for the Federal Reserve, focusing on racial inequality.

Biden plans to work with Congress to require the Fed to target persistent racial gaps in jobs, wages and wealth, he announced in a July 28 speech. The move would add an additional mandate to the stable prices and maximum employment goals of the central bank.

If Biden is elected president in

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