The Church is God's people. It is the faithful remnant of racial Israel, and the ingrafted memebers of all other nations who have accepted the faith of Abraham as preached by the prophets and by Our Lord Jesus Christ. This is the message of the Gospel. See Jonah, Romans 11, Galatians 3, Acts 10, St. John 15, etc.
Agreed that the church is God's people. Remnant Israel is God's people as well. There is an ideology that says God is through with biological Israel (they aren't really a race unless semitic counts, but do share a common lineage). This is not biblical. The Bible indicates that after a time of blinding (in part), God will revisit His people and draw her to Himself. Those who hate her are not behaving as Christians.