Jared Bernstein

Updated at 9 a.m. ET

This week, Joe Biden's campaign released its fourth and final plank in the former vice president's package of economic ideas: a plan for racial economic equity. It's a 26-page rundown of policies ranging from a plan to boost small businesses to a first-time homebuyer tax credit.

But contained in the plan was a less-flashy proposal: asking the Federal Reserve to explicitly take race into account when it sets policy.