LONDON, Oct. 9 (Xinhua) The opening of new U.S. bank branches is leaving behind minority neighborhoods despite racial equality pledges from lenders, Reuters has reported.
The report, which examined trends between 2010 and 2021, found that the country's biggest banks only opened 638 branches in low-to-moderate income communities made up primarily of people of color. That accounts for just 15% of their total branch openings.
Federal Reserve Chair Jerome Powell has learned to accept that fighting inflation comes with collateral damage. At this point, it also means unleashing hell on the global economy.