“Now, the Federal Reserve semiannual report highlights that Black people have continued to have higher unemployment rates and lower wages than white workers.”

“This is a problem. Now, it’s a problem for Black workers. It’s a problem for the Black family. But really, it’s a problem for everyone.”

Pressley Has Repeatedly Sounded the Alarm on Trump’s Unemployment Crisis, Pushout of Black Workers, Demanded Action from Federal Reserve

Video (YouTube)

WASHINGTON – Today, during a House Financial Services Committee hearing, Congresswoman Ayanna Pressley (MA-07) urged Federal Reserve Chair Kevin Warsh to address the alarmingly high Black unemployment rate and uphold the Federal Reserve’s mandate for maximum employment. In her question line, Rep. Pressley reiterated her demands that the Federal Reserve analyze and establish a plan of action to tackle racial unemployment disparities and protect Black workers and share this plan with the Congressional Black Caucus.

A transcript of Congresswoman Pressley’s remarks is available below and the video is available here.

Transcript: Pressley Urges Federal Reserve Chair Warsh to Address Black Workers’ Unemployment Crisis, Uphold Maximum Employment Mandate

House Financial Services Committee

July 14, 2026

REP. PRESSLEY: Thank you, Mr. Chair.

And welcome, Chair Warsh, congratulations, and welcome to the Financial Services Committee.

I represent the Massachusetts Seventh Congressional District, a beautiful, dynamic district, and also one that is deeply unequal.

In fact, in a three-mile radius from Cambridge, home to your alma mater, to Roxbury, a historically Black, vibrant community in my district. That being said, median household income drops by $50,000 and life expectancy by 30 years. That’s just in a three-mile radius, and those inequities are not naturally occurring. They are man-made. They’re the result of intentional and deliberate government action.

So, I’m here, and what guides me is the work to be just as intentional and just as deliberate in making sure that government works for all people. And I know we’re just getting to know one another, but I hope I can count on your partnership in that mission, Mr. Chair.

I’m going to begin with what should be an easy yes or no question. Are you committed to fulfilling the maximum employment requirement of the Federal Reserve’s statutory mandate?

FED CHAIR KEVIN WARSH: Congresswoman, absolutely. We have no disfavored part of the job that you gave us. Price stability and maximum employment are not an either-or proposition. I’m committed to both of them.

REP. PRESSLEY: Well, that was my next question—if you viewed this mandate as equally important as the price stability mandate.

Now, since Trump took office, hundreds of thousands of people have been pushed out of the federal workforce. The current unemployment rate is 4.2%, which is higher than when Biden left office. And if you look deeper into the data, Black unemployment writ large is at 6.6%.

Now, the Federal Reserve semiannual report highlights that Black people have continued to have higher unemployment rates and lower wages than white workers.

This is a problem. Now, it’s a problem for Black workers. It’s a problem for the Black family. But really, it’s a problem for everyone.

It’s a problem for workers like Teresa in my district, who, despite being educated, qualified, and good at her job, was let go from her public health position due to government funding cuts. And with the state of HHS, our country needs to employ all of the public health experts that we can find.

But this is also a problem for our national economy and financial stability.

Let me illustrate what I mean. According to one report, Black Americans held a buying power of $1.6 trillion in 2020. Economists estimate that 2% of Black women being fired has led to $37 billion being lost in GDP spending.

So when that money is lost, it impacts everyone. It impacts our small businesses that spur local economies and workforces.

So the point is, when Black workers lose, everyone loses.

So Chair Warsh, given the persistent racial disparities in unemployment, will you, as Federal Reserve Chair commit to confronting these workforce challenges that Black workers are forced to endure?

CHAIR WARSH: So, Congresswoman, I’ll say this, which is the U.S. can ill afford to leave any individuals behind. The economic opportunity, which is essential for America’s growth trajectory over the next 5 and 10 years, means that every American needs to have opportunities to be productive.

And I believe, unlike some in the economics profession, that productivity-led economic growth is a good thing, not a bad thing. And I’m hopeful that the Fed can be supportive of opportunities for economic growth.

REP. PRESSLEY: Thank you, Mr. Chair. And I want to say specifically for Black workers, because if a problem of this magnitude—there are 700,000 unemployed Black women right now. If a problem of that magnitude was happening to any other group, we would do the analysis and we would have a plan.

So I’m going to ask of you what I asked of your predecessor—for you to come and brief the Congressional Black Caucus on your strategies and efforts specifically to the Black worker, given the disparate impact.

You know, you’ve talked about your refusal to tolerate a persistent high inflation. I need the same rigor, the same rigor, the same vigor, and the same commitment when it comes to the Black worker. It’s already a part of your mandate.

CHAIR WARSH: So American workers, no matter their background, have my commitment to do what we can at the Federal Reserve to make sure they have all the opportunities in front of them, regardless of any characteristic.

REP. PRESSLEY: Well, Mr. Chair, experts believe we need targeted structural efforts to address unemployment disparities. So I’m asking for focused—

FSC CHAIR HILL: The gentlewoman’s time is expired. I invite the Chairman to answer your question in writing.

REP. PRESSLEY: Thank you.

—

In September 2025, Congresswoman Pressley wrote to Federal Reserve Chairman Jerome Powell sounding the alarm on the rising unemployment rate for Black women in the United States and demanding the Fed take immediate action to uphold its mandate of maximum employment for all. The Congresswoman’s letter came amid the Trump Administration’s mass federal workforce layoffs and anti-DEI policies disproportionately impacting Black women and as Donald Trump attempted to seize control of the Fed by illegally firing Federal Reserve Governor Lisa Cook. A copy of the Congresswoman’s letter is available here.

In December 2025, Rep. Pressley and Congressional Black Caucus Chairwoman Yvette Clarke followed up to Rep. Pressley’s demands and wrote to Federal Reserve Chairman Jerome Powell demanding a briefing for members of the Congressional Black Caucus on how the Federal Reserve is responding to this growing crisis. 

In May 2026, Rep. Pressley vehemently opposed Republican legislation that would strip the Federal Reserve’s mandate for maximum employment, emphasizing the Fed’s essential role in ensuring economic health, community well-being, and personal dignity in work especially under Trump’s unemployment crisis. During debate, Rep. Pressley combatted Republicans’ anti-worker legislation through four amendments affirming the importance of the Fed’s mandate for maximum employment.

In March 2026, Reps. Pressley and Summer Lee (PA-12) introduced the Better Labor Statistics Act, or the BLS Act, legislation that would codify the Bureau of Labor Statistics’ mandate to report unemployment data publicly, online, and at the first Friday of each month to ensure transparency and accuracy in unemployment data collection. The BLS Act would also codify the publication of unemployment data broken down by race and ethnicity, gender, geography, and industry.

In December 2025, Rep. Pressley, along with Co-Chairs of the Congressional Caucus on Black Women & Girls, Congresswomen Yvette D. Clarke (NY-09), Robin Kelly (IL-02), Bonnie Watson Coleman (NJ-12), led 19 of their colleagues demanding the Department of Labor (DOL) take immediate action to address the rising unemployment crisis among Black women that has taken shape since the start of the second Trump Administration.

In November 2025, Rep. Pressley convened Black women, economists, civil rights leaders, and community members for an urgent discussion about the unemployment crisis facing Black women and its impact in Massachusetts and beyond.

In September 2025, Congresswoman Pressley convened a press conference with a coalition of Black women activists and civil rights leaders to continue sounding the alarm on the rising number of Black women forced out of the workforce in the United States.

###