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Following today’s historic announcement that Raphael Bostic
will serve as the first African American and openly-gay
president of a regional Federal Reserve Bank,
Congresswoman Maxine Waters (D-CA), ranking member of
the House Committee on Financial Services, applauded the
Federal Reserve Bank of Atlanta and the Board of Governors
for taking the long-awaited first step towards building
diversity among the Federal Reserve’s senior leadership:
“Mr. Bostic is an outstanding choice. His wealth of
experience and research on wealth disparities and barriers
to economic opportunity will play a critical role in shaping
the economic policy decisions that affect all American
families.
“Given the disparate economic experiences faced by key
demographic groups, it is crucial that a broader
cross-section of groups have a seat at the decision-making
table. I congratulate Mr. Bostic on his appointment and
encourage the Federal Reserve Bank of Richmond, working with
the Board of Governors, to build on today’s announcement by
conducting the genuine and intentional efforts needed to
build diversity at the Fed and ensure its senior leaders
reflect the interests of America as a whole.”
Waters has been a leading advocate for increased diversity
within the Federal Reserve System. Waters has previously
written to Chair Yellen as well as the Federal Reserve Banks
of Richmond and Atlanta calling for an inclusive search
process that ensures minority, gender, and occupationally
diverse candidates are considered to serve as presidents of
the regional Federal Reserve Banks. |
