U.S. economy has ‘never worked fairly for any American of color,’ treasury secretary says in speech

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Janet Yellen referred to Martin Luther King’s famous speech in remarks she recorded for delivery at the Rev. Al Sharpton’s National Action Network breakfast in Washington.

FILE - Flowers lay in front of the birthplace of Dr. Martin Luther King, Jr., on Jan. 18, 2021, in Atlanta. The annual Martin Luther King Jr. service is set to be held at his old congregation in Atlanta. ATLANTA — The U.S. economy “has never worked fairly for Black Americans — or, really, for any American of color,” Treasury Secretary Janet Yellen said in a speech delivered Monday, one of many by national leaders acknowledging unmet needs for racial equality on Martin Luther King Day.

Monday would have been the 93rd birthday of the Rev. Martin Luther King Jr., who was just 39 when he was assassinated in 1968 while helping sanitation workers strike for better pay and workplace safety in Memphis, Tennessee. Yellen referred to King’s famous speech in remarks she recorded for delivery at the Rev. Al Sharpton’s National Action Network breakfast in Washington, noting the financial metaphor he used when describing the founding fathers’ promises of equality.

“It is compelling rhetoric, but I also think Dr. King knew it was a more than a metaphor. He knew that economic injustice was bound up in the larger injustice he fought against. From Reconstruction, to Jim Crow, to the present day, our economy has never worked fairly for Black Americans – or, really, for any American of color,” Yellen said.

 

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