The Federal Reserve Board Is Only 0.5% Black. Biden Wants To Change That
02/15/21 AT 3:30 PM
President Biden has made representation a priority in his staffing decisions, but low numbers of Black Federal Reserve employees indicate that reform will be no easy feat.
A report from The New York Times shows that only 0.5% of Federal Reserve Board workers in Washington identify as Black, with many other offices lacking even a single black hire.
Officials have been aware of the problem for years but had long blamed it on a lack of qualified applicants. Data from January suggests that is false: 4% of Ph.D. economics graduates are Black, a heavy underrepresentation but still well above the Fed’s hiring rate.
Why Are There So Few Black Economists at the Fed? - American Renaissance amren.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from amren.com Daily Mail and Mail on Sunday newspapers.
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02/03/2021 08:00 AM EST
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