The Boston Fed has, he says, an “intense interest in ‘racial justice’ activism,” a matter “fraught with ideological assumptions and interpretations.” Toomey says the bank “appears to believe that economic disparities … can only be explained by racial animus.” Boston Fed publications assert a “continuous epidemic of racially motivated systemic violence against Black lives,” and insist that “Black, Latinx, and Indigenous people live each day on the brink of socioeconomic collapse.” The bank favors political action against American society, which “still is intentionally shaped by racism.”

