Economics
Brainard Says Fed Must Do More to Boost Diversity in Its Ranks
- Says recruitment of women, minorities should be stepped up
- Speaks at event to honor pioneering black economist and lawyer
Lael Brainard
Photographer: Andrew Harrer/Bloomberg
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Federal Reserve Governor Lael Brainard said the U.S. central bank must improve its recruitment of women and people from minority backgrounds because greater diversity leads to better policy decisions.
Noting that it was more than a century after the Fed’s creation that the one of its 12 regional banks was headed by an African American -- Raphael Bostic, who became president of the Atlanta Fed in 2017 -- Brainard said “we need to do better.”