The devil’s bargain on inflation

The Federal Reserve knows raising interest rates disproportionately hurts Black people. It just doesn’t have any better tools, says the Minneapolis Fed’s Neel Kashkari. This episode was produced by Miles Bryan, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Efim Shapiro, and hosted by Noel King. Transcript at vox.com/todayexplained Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices