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May 12, 2022

Despite new faces, diversity appears elusive to other parts of the Fed system

The Senate confirmed Philip Jefferson this week as just the fourth Black man to serve as a Federal Reserve governor in Washington. He joins Lisa Cook, the first Black woman to serve as a Fed governor. However, a new report shows that the pace of diversity has been slower at the 12 regional Fed banks. We speak with the BBC’s Victoria Craig about London vying for position at the top of the cryptocurrency world.

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“If you’re intentionally creating a talent pool that is nondiverse, then you’re probably going to end up with a nondiverse outcome," Georgetown Law professor Chris Brummer says. Above, the Federal Reserve building in Washington, D.C.
“If you’re intentionally creating a talent pool that is nondiverse, then you’re probably going to end up with a nondiverse outcome," Georgetown Law professor Chris Brummer says. Above, the Federal Reserve building in Washington, D.C.
Daniel Slim/AFP via Getty Images

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The Team

Despite new faces, diversity appears elusive to other parts of the Fed system