On MLK Day, Yellen says the US economy isn’t fair to blacks



The U.S. economy “has never worked fairly for black Americans — or indeed for any American of color,” Treasury Secretary Janet Yellen said in a statement on Thursday. Two, one of many national leaders to acknowledge the unmet need for racial equality for Martin Luther King Day.

Major holiday events also include the annual ceremony of Martin Luther King Jr. at the Ebenezer Baptist Church of the slain civil rights leader in Atlanta, where the senior pastor, U.S. Senator Raphael Warnock, was hosting Georgia Governor Brian Kemp and other politicians.

Monday will be the 93rd birthday of Father Martin Luther King Jr., who was 39 years old when he was assassinated in 1968 while helping strike sanitation workers for better pay and safety. at work in Memphis, Tennessee.

King, who gave the historic “I Have a Dream” speech at the lead in March 1963 in Washington and was awarded the Nobel Peace Prize in 1964, remains one of the most beloved figures in the world. . He considered racial equality inseparable from poverty alleviation and an end to war. His staunch opposition to nonviolence continues to influence activists promoting civil rights and social change.

Yellen mentioned King’s famous speech in a speech she recorded delivering groceries at Father Al Sharpton’s National Action Network breakfast in Washington, noting the financial metaphor he used. used when describing the equal promise of the founding fathers.

King said on the steps of the Lincoln Memorial that “America defaulted on this ballot as far as her citizens of color were concerned.” He called it “a bad check, a check that came back marked as insufficient. But we refuse to believe that the bank of justice is bankrupt! ”

“It’s a fascinating rhetoric, but I also think Dr. King knows it’s more of a metaphor than a metaphor. He knows that economic injustice is bound by the greater injustice he is fighting against. From Reconstruction, to Jim Crow, to this day, our economy has never worked fairly for black Americans — or indeed for any American of color,” Yellen said. .

She said the administration of President Joe Biden has sought to ensure that there is no economic institution that does not work for people of color. Equity is built into the American Rescue Plan for pandemic relief for communities of color, and the Treasury is injecting $9 billion into Community Development Finance Institutions and Minority Depository Institutions numbers are often poorly served by the financial sector.

“There is still a lot of work that the Treasury needs to do to narrow the racial divide between rich and poor,” she said.

The King Center said the 10 a.m. service, with a keynote address by Father Michael Bruce Curry, presiding bishop of Episcopal Church, will be broadcast live on the Atlanta branch of Fox TV and on Facebook and YouTube. and Atlanta’s planned events also include a march, a rally, and a voter registration campaign by the Georgia Coalition for America’s People and Youth Service Agenda.

“On this King’s Day, I urge us to shift our priorities to reflect our commitment to true peace and an awareness of our interconnectedness, interdependence, and interdependence. us,” King Center CEO Bernice King said in a statement. “This will help us better understand our responsibilities to and to each other, which is important to learn how to live together, achieve ‘true peace’ and create a Beloved Community. .”

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