During the Fed’s 108-year history, only three African Americans have been appointed to the Federal Reserve Board of Governors. The diversity dearth also is reflected in influential positions not filled by presidential appointments. In the history of the 12 Fed-affiliated regional reserve banks, only one Black person, Raphael Bostic in Atlanta, has been a regional president and CEO. The New York Times reported in February that only 0.5 percent of the Fed’s 417 economists were Black. A doctorate is required for the job.

Source: Washington Post November 04, 2021 21:58 UTC