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Black Pound Day Aims to Support U.K. Black-Owned Businesses

LONDON — For Aimée Felone, whose children’s bookstore in London stocks tales with ethnically diverse characters, the Black Lives Matter protests last summer were, in a word, overwhelming.“We had attention like we’ve never had before,” Ms. Felone said. People across the country clamored for books about antiracism and sought out Black-owned businesses like her store, Round Table Books, as a way to help reverse years of economic racial inequality. In early June, the store’s sales went through the roof.But pandemic restrictions had shuttered the store’s warehouse. After two weeks, the four-person team was struggling to …

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The Fed Faces Criticism as It Wades Into Climate and Equity Issues

And Michael Strain, an economist at the American Enterprise Institute in Washington, said he was concerned that the Fed’s focus on fostering equity — by driving down Black unemployment, for instance — could make it too hesitant to lift interest rates, allowing inflation to bubble up.But Fed officials say the central bank is being pragmatic, not political. Ms. Daly regularly points out that understanding climate change risks to the financial system is important for bank regulators and supervisors. Mr. Powell said during a webcast Wednesday that the Fed sees such issues “through the lens of our existing mandates” — racial, gender …

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Racist Computer Engineering Words: ‘Master,’ ‘Slave’ and the Fight Over Offensive Terms

Anyone who joined a video call during the pandemic probably has a global volunteer organization called the Internet Engineering Task Force to thank for making the technology work.The group, which helped create the technical foundations of the internet, designed the language that allows most video to run smoothly online. It made it possible for someone with a Gmail account to communicate with a friend who uses Yahoo, and for shoppers to safely enter their credit card information on e-commerce sites.Now the organization is tackling an even thornier issue: getting rid of computer engineering terms that evoke racist history, …

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Beyond Pandemic’s Upheaval, a Racial Wealth Gap Endures

“I want to emphasize that,” he added. “Through no fault of their own.”The pandemic has hit African-Americans and Latinos hardest on all fronts, with higher infection and death rates, more job losses, and more business closures.Proposals that confront the wealth gap head on, though, are both expensive and politically charged.Professor Darity of Duke, a co-author of “From Here to Equality: Reparations for Black Americans in the Twenty-First Century,” has argued that compensating the descendants of Black slaves — who helped build the nation’s wealth but were barred from sharing it — would be the most direct and effective …

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He Redefined ‘Racist.’ Now He’s Trying to Build a Newsroom.

Dr. Kendi’s book, a memoirish argument that Americans of all races must confront their roles in a racist system, has drawn attention, and controversy, for pulling the word “racist” away from its current usage as a hypercharged word reserved for the clearest cases. He thinks the word should be attached to actions, not people, and used to describe supporting policies — like standardized testing — that produce a racially unequal outcome. The focus on outcomes helped put Dr. Kendi at the center of the long-running argument about the roots of inequality. But when he published his book, he said, he was …

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Treasury Ramps Up Racial Equity Review as It Deploys Relief Funds

WASHINGTON — The Treasury Department is moving ahead with a formal racial equity review of the agency and its programs, putting in place an effort to ensure that economic fairness is prioritized throughout the Biden administration as it begins to disburse $1.9 trillion in relief money.The initiative is expected to be led by Adewale Adeyemo once he is confirmed as deputy Treasury secretary, according to people familiar with the matter. It will be undertaken in close collaboration with Treasury Secretary Janet L. Yellen, who is making racial equity a centerpiece of her agenda as she oversees the disbursement of much of …

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Why Are There So Few Black Economists at the Fed?

But Mr. Gamble left college with a plan. He had discovered his interest in economics partway through university, when he found an old textbook in a public library and read it cover to cover, soaking in the descriptive logic — only to realize a Black man had written the text. It inspired him.He dedicated his undergraduate summers to working on research projects with college professors and attending programs meant to help students from less-privileged backgrounds get on track to a doctorate, assembling a who’s who list of academic economists as recommenders.Still, that wasn’t enough to get him …

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Sundance Film Festival Forges Ahead, Led With ‘Warrior Spirit’

Shortly after Donald J. Trump’s inauguration in January 2017, Tabitha Jackson, then the director of the Sundance Institute’s Documentary Film Program, was hosting the annual opening reception for documentary filmmakers at the festival in Park City, Utah. The British Ms. Jackson, who is mixed race and gay, took the stage, knowing many in the audience were unsettled by what had happened and what was ahead.She struggled to find the words to convey what people were feeling. Instead, in a reverse Samson moment, she asked the filmmaker Sandi Dubowski (“Trembling Before G-d”) to start chopping off her dreadlocks, which …

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‘I am So Lost’: Black Homeowners Struggle to Get Insurers to Pay Claims

‘I am so lost’Mr. Young, the vendor hired by State Farm to arrange repairs to Ms. Burgess’s home, has seen insurers lowballing other Black customers and lobbied on their behalf — even though his Los Angeles-based company, Valley Green, which specializes in fixing damaged homes, depends on insurers for business.He fought on behalf of Langston Phillips, who almost lost his house during a fight with his insurer, Pacific Specialty. Three years ago, Mr. Phillips’s kitchen had flooded after a pipe burst, ruining portions of his three-bedroom home in Inglewood. An adjuster from Pacific Specialty determined that the …

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‘Tokenized’: Inside Black Workers’ Struggles at Coinbase

SAN FRANCISCO — One by one, they left. Some quit. Others were fired. All were Black.The 15 people worked at Coinbase, the most valuable U.S. cryptocurrency start-up, where they represented roughly three-quarters of the Black employees at the 600-person company. Before leaving in late 2018 and early 2019, at least 11 of them informed the human resources department or their managers about what they said was racist or discriminatory treatment, five people with knowledge of the situation said.One of the employees was Alysa Butler, 25, who worked in recruiting. During her time at Coinbase, she said, she told her manager several times about …

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