According to Nobel winning economisr, Joseph Stiglitz, higher rates would slow the US economy but it would hurt African-Americans and Hispanic Americans the most.
Source: Joseph Stiglitz: It’s a no-brainer to keep rates on hold – MarketWatch
Of course, since the financial crash of 2008, poor Americans have never really recovered. The top 1% and indeed the top 20% have gone from strength to strength. I’m not sure what Obama has really done to improve the lot of the least advantaged in American society?