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Demonstrators protest against police brutality in Times Square in Manhattan, New York, U.S., May 31, 2020. /Xinhua
Systemic racism and high unemployment levels among black and Hispanic Americans pull the U.S. economy back, according to Dallas Federal Reserve President Robert Kaplan.
"A more inclusive economy where everyone has an opportunity will mean faster workforce growth, faster productivity growth and will grow faster. And so I think we're right to focus on this and bore in on this," Reuters quotes Kaplan.
Kaplan said he agreed with his counterpart at the Atlanta Federal Reserve Bank, Raphael Bostic - the Fed's only African-American policymaker - who on Friday issued an impassioned call for an end to racism and laid out ways the U.S. central bank can help.
The comments by the Fed policymakers come after weeks of protests in the U.S. after the death of an unarmed black man during arrest in Minneapolis.
George Floyd died on 25 May after a white police officer knelt on his neck for several minutes as he and his colleagues arrested him.
An onlooker's cell phone recorded the incident showing the 46-year-old black man moaning, "Please, I can't breathe" and "Don't kill me" as the police officer pressed his knee onto Floyd's neck.
After several minutes of the police officer pressing his knee on Floyd's neck, the victim went silent and was later pronounced dead.
The video quickly went viral on social media, sparking widespread protest from Tuesday afternoon, some of which have deteriorated into chaos.
In the two weeks since his death, protests has spilled beyond the U.S. as countries across the world show solidarity with the demonstrators seeking justice for Floyd's family.
According to Kaplan "it's in the interest of the U.S.," to tackle racism and unemployment among minorities.
"The fastest growing demographic groups in this country are blacks and Hispanics. If they don't participate equally then we're going to grow more slowly," he said.
