Thegrio Politics
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What Is the Impact of Inflation on Black-Owned Businesses?
Posted
December 17, 2021
Views
309
Likes
7
Comments
2
Engagement
2.91%
December 17, 2021
309
7
2
2.91%
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7:32Now PlayingAccording to the Bureau of Labor Statistics, inflation rose at its fastest pace in nearly a generation.
Inflation shock has had a widespread impact on the country, but it’s disproportionately affected Black and Brown Americans.
For example, Black and Latino families spent 7% of their post-tax income on energy, compared to 5% spent by other racial groups, according to Bank of America researchers.
Vice President Kamala Harris and the Treasury Secretary Janet Yellen announced the release of $8.7 billion in lending to boost minority-owned small businesses.
Certified financial planner Kenneth Chavis IV joins guest host Laverne McGee on “Prime” to discuss.
All this and more on “Prime.”
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#Inflation #BlackOwnedBusinesses #LaverneMcGee
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