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Fed’s Powell would welcome a Black woman on the Fed board By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The Federal Reserve Building is seen in Washington, DC, U.S.A, August 22, 2018. REUTERS/Chris Wattie/File Photo

(Reuters) – Federal Reserve Chair Jerome Powell on Tuesday said he would welcome the appointment of a Black woman to the Federal Reserve Board of Governors for the first time.

Powell stated that “I would strongly agree” with the notion of a wider variety of voices on the Fed board will enhance the bank’s mission in response to questions from the Senate Banking Committee chairman during a hearing. One Black woman was never appointed to one of the seven Fed board members.

Janet Yellen (Treasury Secretary) echoed Powell’s views during a hearing regarding the Fed’s actions in the wake of the coronavirus pandemic. Yellen stated that diversity was very important to her.

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