Asset Allocation Bi-Weekly - The Fed's Employment Surprise (4/24/2023)

Gains in the U.S. labor market by Black Americans have easily outdistanced gains by white workers, at least by one measure, and those gains continue even as the Federal Reserve persists in raising interest rates. Confluence Staff Economist Thomas Wash discusses the history of minority employment in the U.S., what to make of the latest numbers, and whether they present an accurate reading of the economy that the Fed can bank on as it considers future rate decisions.