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02/18/2019 | Building a National Campaign for a Strong Economy: Fed Up

The Urgent Need For A More Publicly Representative Fed: 2019 Diversity Analysis of Federal Reserve Bank Directors

The Center for Popular Democracy’s Fed Up Campaign conducts an annual analysis of the gender, racial, and occupational diversity of the Federal Reserve system’s leadership.

     This is designed to gauge progress on the Federal Reserve’s public commitments to diversity and highlight areas for continued growth in the coming year.

    The 2019 analysis reveals a shocking lack of progress in diversity among the nation’s most powerful monetary policymakers. While some Federal Reserve Banks have made modest progress in gender and racial diversity, board members from the business and banking sectors continue to dominate leadership positions. In 2019, among the 108 current Fed Board Directors: 76% come from the banking or business sectors, 74% are white, and 62% are male. These diversity issues also extend to Federal Reserve Bank Presidents who are overwhelmingly (83%) white and are most commonly recruited from with the Federal Reserve’s existing leadership or the finance sector.

    Without diverse perspectives, the Federal Reserve’s failure to represent the interests of the American people will persist. In 2019, policymakers and advocates continue to call on the Federal Reserve to actively pursue greater diversity at all levels of its leadership.