Economics
Fed's Williams Says Bias in U.S. Economy Is Holding Back Growth
- LGBT unemployment is twice as high as national average
- New York Fed flying rainbow flag for the first time this June
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Federal Reserve Bank of New York President John Williams called attention to bias in the U.S. economy in remarks for the OPEN Finance Forum Tuesday, saying it’s a “source of constant disappointment and frustration that LGBT people, women, people of color, continue to have less economic opportunity than their straight white male counterparts.”
As an example, he highlighted the unemployment rate for lesbian, gay and transgender people -- almost double the national average -- and said the disparity is holding back economic growth.