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MBDA Decision From A Young Person's Perspective, Anish Thota, Impact Investing Intern. Charlotte Latin School

A federal judge in Texas has ruled that the Minority Business Development Agency (MBDA) can no longer provide exclusive assistance to businesses owned by people of color, following a lawsuit alleging unconstitutional policies. The MBDA, originally established to promote growth in minority-owned businesses, must now provide support to all businesses regardless of race. The judge emphasized the need for concrete evidence of past discrimination to justify race-based assistance programs, indicating a shift away from policies that prioritize minority businesses without sufficient evidence of discrimination. This ruling reflects broader debates around affirmative action and equity measures, suggesting a trend of legal challenges to programs aimed at addressing inequity. Opinion from a young person’s perspective As a young person, witnessing this decision regarding the Minority Business Development Agency (MBDA) prompts a deep reflection on the complexities of addressing systemic inequalities
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Unemployment by Race, Ethnicity for February 2024

Unemployment data indicates persistent disparities in unemployment rates among the racial/ethnic groups studied. Over the period from January 2023 to February 2024, the Black population consistently experienced higher unemployment rates compared to other groups. In contrast, the Asian population, aside from a spike in November 2023, generally had the lowest unemployment rates. Differences Between Groups: - Black unemployment rates were 1.3% to 2.9% higher than those of the White group throughout the period. This suggests a significant and persistent gap that does not close over the months observed. Even when the Black unemployment rate decreased from its peak in November 2023, it was still higher than the rates for other groups. Black small business ownership has been on the rise in recent years, but it is important to note that Black-owned businesses have had less access to capital, higher loan denial rates , and less favorable loan conditions compared to businesses owned by other rac

International Women's Day! #breakthebias

  International Women's Day!  #breakthebias

VC FUNDING OF BLACK STARTUPS DROPS. Jeff McKinney, Black Enterprise Magazine.

New data show that venture funding for Black-founded startups remains dreary. For the first time since 2016, backing for those companies in 2023 fell below $1 billion to $705 million, according to a new report from tech research firm Crunchbase. The eye-popping 71% decline for Black startups was much larger than the 37% drop in combined venture capital (VC) dollars invested in 2023 as the market retreated. The latest numbers also reflect Black founders last year getting over $300 million less in those dollars than seven years before that. During the peak funding year of 2021, Crunchbase shared that $4.9 billion was invested in Black founders. The 2023 figure represents an 86% drop from 2021 for those entrepreneurs. The drop in VC funding to Black start-ups is significant as those firms need the capital to launch businesses, expand, and gain working capital to help them survive. Further, Black-owned women’s small businesses continue to struggle to land VC funding even though they’re amo

Politico Governor’s Summit 2024. Daniel Merritt, Gonzaga University, Intern.

On Thursday, February 22nd, Politico held its annual Governor’s Summit hosting six state governors and reviewing their thoughts on various issues. With a range of political views ranging from those of Republican Governors Association head Brian Lee to liberal New York governor Kathy Hochul, many sides of the partisan spectrum were present. Still, one can’t help but feel as though the governors’ responses were reserved and cryptic given that this is an election year where political transparency is arguably more important than ever. This article summarizes relevant views by the event’s panel of six governors, attempting to provide insight on future policy. Nonetheless, extracting substance from their words is akin to fighting an uphill battle given the governor's ability to dance around questions. First to speak was Governor Brian Kemp of Georgia. He voiced a desire to expand Georgia’s electric car (EV) market, elucidating plans to centralize electric car manufacture in his state as

Todd M. Harper, Chairman of the National Credit Union Administration at Brookings. Abhey Singh Guram, Beloit College, Intern.

In the world of finance, credit unions, banks and securities firms are constantly navigating choppy waters. During a recent discussion, Todd M. Harper, Chairman of the National Credit Union Administration, shed light on the challenges and opportunities that credit unions face. Held at the Brookings Institution, the event covered the state of credit unions, regulatory efforts, and the unforeseen hurdles that may lie ahead for the financial sector. At the heart of the discussion was the role of credit unions in serving specific communities, with Harper acknowledging and highlighting the unique and diverse nature of credit union membership. These  range from employer-focused credit unions to those with multiple membership common bonds. At the event, a special focus was placed on minority depository institutions (MDIs). These common bond connections (typically based either on employment or community ties) shape the outlook of credit unions. This requires credit unions have flexibility in t

Fed Chair Powell on 60 Minutes. Daniel Merritt, Gonzaga University, Intern.

Creative Investment Research (CIR) has consistently maintained that the present state of the economy is not just adequate but significantly superior to those of the past. This view was corroborated by Federal Reserve Chair Jerome Powell in a 2/4/2024 interview on 60 Minutes , where he addressed and sought to allay concerns related to ongoing inflation at the microeconomic level. Chair Powell pointed out that inflation rates have decreased rapidly and markedly, a trend not observed since the 1980s. He highlighted the current low unemployment rate of 3.7%, which signifies a robust labor market that bolsters an ongoing trend of deflation. Despite rapid changes in key macroeconomic indicators, which might raise concerns, Powell reassured that the inflation rate remains only moderately above the Federal Reserve's target of 2%. This margin allows the Federal Reserve flexibility to adjust policies in response to unforeseen market shifts. Powell also explained the rationale behind the 2%