Economic outcomes for families in the United States vary dramatically by race, ethnicity, class and a range of other demographic characteristics. Some of these differences have recently become worse, and many have persisted through decades of both good times and bad. Here in Minnesota, for example, African-Americans lag behind whites in income, employment, test scores and high school graduation rates to such a degree that our state ranks below 40 others on each comparison.
Figuring out why some groups in society continue to be denied opportunities and are excluded from participating in the gains from economic progress is the job of the new Federal Reserve Opportunity and Inclusive Growth Institute, located at and led by the Minneapolis Fed. While the institute will operate nationally, it will have strong local connections, making it vitally important that we answer key questions about these widening disparities.
This is an excerpt from an op-ed written by Minneapolis Fed first vice president Ron J. Feldman and research director and senior vice president Mark L.J. Wright. Read the full article published by the Star Tribune on June 26, 2017.