The Atlanta Journal-Constitution
Atlanta Fed chief expects one rate cut
New album is a step toward inclusion in the country music genre, which long has shunned Black artists.
Federal Reserve Bank of Atlanta President Raphael Bostic said it will likely be appropriate to lower inter- est rates in the fourth quar- ter, emphasizing the bumpy nature of inflation progress.
Bostic reiterated his expec- tation for just one rate cut this year, pointing to the strength of the economy and a slower decline in inflation. The Atlanta Fed chief is a voting member of the Fed’s policy-setting com- mittee this year.
“I think it will be appropriate for us to start mov- ing down at the end of this year, the fourth quarter,” Bostic said in an interview with CNBC. “If that trajec- tory slows down in terms of inflation, then we’re going to have to be more patient than I think many have expected.”
Policymakers narrowly maintained their outlook for three cuts this year, accord- ing to the median projec- tion. Of the 19 officials, nine anticipated two or fewer reductions. The central bank held interest rates steady at a more than two-decade high at their March meeting.
Fed Chairman Jerome Pow- ell said Wednesday that interest rate cuts are still appro- priate despite the recent economic reports.
“The recent data do not ... materially change the over- all picture,” Powell said in a speech at Stanford Univer- sity, “which continues to be one of solid growth, a strong but rebalancing labor market, and inflation moving down toward 2% on a sometimes bumpy path.”
Bostic said inflation hasn’t moved very much as oflate and that he is concerned by some secondary measures in the price figures. And while he isn’t hearing of many cracks in employment from his contacts, he signaled a negative turn in the labor market could impact his call for just one cut.
“If employment starts to degrade, then I will have to take that on board,” he said.
The government’s monthly jobs report, released Friday, is anticipated to show employers added 214,000 jobs in March. Economists see the unemployment rate ebbing to a historically low 3.8%.
Country music is Black music.
For decades, the legacy and impact of the Black musicians who created country music have been swept under the rug, and the artists have not been recognized. Like many other things in American history, Black people helped build something and were left behind.
Some might ask, “How could a group of people who created the genre go unrecognized?” The answer is racism. As a result of this whitewashing, many in the industry have become gatekeepers to keep out those whom they don’t deem “country.”
The genre’s historical roots are deeply entwined with African-American folk music traditions. The banjo, probably the most recognized country instrument, comes from the Akonting and was brought to America from West Africa through the Middle Passage. In the 19th century, minstrel shows became popular entertainment for white audiences. White people would dress in blackface and portray themselves as ignorant, stupid and lazy to the tune of music and instruments exclusively played by enslaved people. They enjoyed the music so much, they turned it into “hillbilly music,” which we now know as country music.
The erasure of Black contributions to country music can be traced back to the 1920s. Once there became a market for the genre, labels decided not to credit the Black musicians featured on popular songs because audiences wouldn’t buy the music if they knew Black people were a part of it. Even now, only three African Americans are in the Country Music Hall of Fame — out of 146 members. Charley Pride was inducted in 2000, DeFord Bailey in 2005 and Georgia’s Ray Charles in 2020.
If you ask someone to name a Black country artist, you’ll likely hear Jimmie Allen, Darius Rucker or Kane Brown. Mentioning pioneers such as Lesley Riddle, Rufus “Tee Tot” Payne or Bailey often draws blank stares. Bailey, a Black harmonica player, was the first musician on the beloved Grand Ole Opry stage in Nashville. Regardless of his talent, the Jim Crow South made it hard for him to tour, and his popularity declined. Though there’s been an upsurge in Black musicians taking back their proper place in the genre, it hasn’t been without criticism.
Lil Nas X, who grew up in Lithia Springs, found almost immediate success with his song “Old Town Road,” which landed on the rap and country charts. But it was removed from the charts because Billboard claimed it wasn’t country enough.
Rucker has been more welcome in the genre than others, but he still faces prejudices that highlight ongoing issues of racism within the industry. In a 2021 “Today Show” interview, Rucker reflected on the backlash he faced after speaking out during the Black Lives Matter movement sparked by the murder of George Floyd.
The genre is as political as it is musical.
“One sentence can end your career in country music,” Rucker said. “Look at the Dixie Chicks. Biggest thing in the business, they say one sentence, every station in the business stops playing their music.”
Yet Jason Aldean’s “Try That in a Small Town” shows him and his band performing in front of the Maury County Courthouse, the very place where a Black teenager was lynched in 1927. The music video included visuals of Black Lives Matter protests over lyrics such as “Cuss out a cop, spit in his face/Stomp on the flag and light it up/Yeah, ya think you’re tough.” Morgan Wallen was caught on video using a racial epithet. Both of these artists’ music remained on country stations — and country charts.
I guess that’s country enough.
Finally, yet importantly, with her new album, “Act II: Cowboy Carter,” Beyoncé broke an 80-year-old glass ceiling. Beyoncé became the first Black woman to top Billboard’s Hot Country Songs chart with “Texas Hold ’Em,” a single from the album. In an Instagram post, Beyoncé suggested she was inspired to make a country music album because she did not feel welcome at the Country Music Association Awards. This album takes aim at that feeling by referencing “KNTRY Radio Texas,” a fictional radio station that plays her music exclusively because, in her words, “Cowboy Carter” “ain’t a country album. This is a Beyoncé album.”
Nevertheless, this is a monumental milestone for representation in the genre, and Beyoncé is putting the spotlight on Black country artists.
This groundbreaking moment marks a significant step forward in diversifying the country music industry and challenging longstanding barriers to inclusion and recognition for artists of color.