Chair Janet Yellen said Thursday she is committed to increasing diversity throughout the Federal Reserve system, including the ranks of senior leadership. Yellen said that the Fed will benefit from greater diversity, and commercial banks will be better off with a more diverse workforce.
"I am committed to improving diversity throughout our organization," Yellen said, speaking by videoconference to a forum of minority bankers in Kansas City, Missouri. "Improving diversity requires effort and constant focus. We will continue working hard to achieve this goal."
Fed Up, a coalition of community activist groups and labor unions, is trying to change how the Fed's 12 regional banks operate, including increasing job opportunities for minorities. The group notes that in the Fed's 100-year history, there has never been a black or Hispanic president at any of its regional banks.
