Robert Kaplan, president of the Federal Reserve Bank of Dallas, told CBS News' "Face the Nation" Sunday that systemic racism is a constraint on economic growth, and that a more "inclusive" economy with equal opportunities will lead to faster workforce growth and higher productivity.

Why it matters: Protests in major cities around the United States were ignited by the killing of George Floyd in Minneapolis, but they have expanded beyond demonstrations against police brutality to include economic and educational injustices faced by people of color.

What they're saying: "We've made a big point and have been at the Dallas Fed, and across our entire Federal Reserve system, to help improve skills training, to improve educational attainment," Kaplan said.

  • "Because we strongly believe a more inclusive economy will lead to better growth. For years, blacks and Hispanics have had an elevated level of unemployment versus whites. That started to improve dramatically in the last few years. We've now taken a step back as a result of this [coronavirus] crisis."
  • "But a more inclusive economy where everyone has opportunity will mean faster workforce growth, faster productivity growth, and we'll grow faster. And so I think we're right to focus on this and bore in on this. It's in the interest of the U.S. The fastest-growing demographic groups are blacks and Hispanics. If they don't participate equally, then we're going to grow more slowly."

The big picture: So far, more black Americans have lost their jobs than white Americans as a result of the coronavirus-driven recession.

  • The virus has also disproportionately affected black Americans, who face a higher risk of contracting and dying from the coronavirus.
  • Goldman Sachs said that based on loan data, black American business owners have not received the same level relief from the Paycheck Protection Program as other businesses, primarily because they operate in low-income, underbanked communities.

Go deeper: Chronic health conditions, inequality put people of color at higher risk for coronavirus

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Poll: U.S. satisfaction hovers near historic lows as economic ratings improve slightly

Photo illustration: Sarah Grillo/Axios

Confidence in the U.S. economy remains below its early 2020 levels, though signs of a market bounce-back have improved Americans' views on current economic conditions this past month, according to a Gallup survey out Thursday.

Why it matters: Americans' satisfaction with the state of the union is holding close to historic lows, even as sentiments surrounding the U.S. economy slightly improve based on bright spots in employment numbers and stock market rallies. That, combined with President Trump's job approval rating — which rests below 50% — is "problematic" for his re-election ambitions.

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Trump agrees to TikTok deal

Illustration: Sarah Grillo/Axios

President Trump on Saturday said he approved "in concept" a deal whereby TikTok will be allowed to continue operating in the U.S., with Oracle as its "trusted technology partner."

Why it matters: TikTok has nearly 100 million U.S. users, and is still growing fast. Trump has threatened to ban it, due to data privacy concerns related to TikTok's ownership by Chinese tech company.

Updated 41 mins ago - Politics & Policy

Trump says Supreme Court nominee "will be a woman"

President Trump speaking prior to his departure from the White House on Sept. 19. Photo: Sarah Silbiger/Getty Images

President Trump said during a Fayetteville, North Carolina, rally Saturday he'll announce a nominee for Justice Ruth Bader Ginsburg's vacant Supreme Court seat "next week" and "it will be a woman."

Details: Trump told reporters earlier, "The choice of a woman, I would say, would certainly be appropriate."