NEWS BRIEF: Equality and inclusion are economic issues, Fed head says
Fed prez Bostic stands against economic racism
Photo credit: Courtesy Federal Reserve/Raphael Bostic Raphael Bostic
Federal Reserve Bank of Atlanta President Raphael Bostic is pushing back at critics who say his insistence on equality, inclusion and diversity is outside his purview and a distraction from the main goals of the organization. Republican Senator Pat Toomey and others have been calling on the Fed and its regional chiefs to stick to a “narrow statutory mission” and focus less on the economic barriers prompted by racism. “If we don’t talk about them, then these constraints on the successful execution of our economy and its growth and its innovation won’t happen,” Bostic affirmed in a virtual forum of the American Economic Association. “This is an economic issue.” bnnbloomberg.ca