There are ‘definitely merits’ to reparations, Fed president says

By Zach Halaschak

Published March 29, 2021 3:18pm ET

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There are ‘definitely merits’ to reparations, Fed president says — Raphael Bostic, associate professor at the University of Southern California School of Policy, Planning and Development, describes the impact of non-traditional loans on consumers and the mortgage industry, during an informational hearing at the Capitol in Sacramento, Calif., Wednesday, Jan. 31, 2007. The Senate Banking, Finance and Taxation Committee was looking into whether to adopt federal guidelines regulating the mortgage industry. | (Rich Pedroncelli/AP)

The first black Federal Reserve president said that there are “definitely merits” to reparations programs.

Raphael Bostic, who in 2017 was chosen to lead the Federal Reserve Bank of Atlanta, made the remarks during an interview that was released on Monday. The comments come as the issue of reparations, which are payments or some form of compensation provided to the descendants of slaves, has gained traction among some on the Left.

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Tag:

African Americans Economics Federal Reserve Race Reparations Slavery