Democratic leadership supporting Fed Up's reform agenda--including today's announcement by the Hillary Clinton campaign--is making the news in a big way today!

Check out all of today's press:

The Week: Hillary Clinton just endorsed serious Federal Reserve reform

The Hill: Dems to Fed: Increase your diversity

Associated Press: Group of Lawmakers Says Fed Fails to Diversify Leadership

Bloomberg: Democrats Criticize Fed for Lack of Diversity in Leadership

Wall Street Journal: Democratic Lawmakers Say Fed Should Increase Its Diversity

Huffington Post: Hillary Clinton Embraces Progressive Federal Reserve Reforms

Huffington Post: Elizabeth Warren And Congressional Democrats Call Out Lack Of Diversity At The Federal Reserve

Business Insider: Hillary Clinton wants to shake up the Fed

Detroit News: Conyers presses Federal Reserve for more diversity

Reuters: U.S. lawmakers urge Yellen to diversify the Fed

Financial Times: Federal Reserve is too ‘white and male’, say Democrats

Los Angeles Times: #FedSoWhite? Lawmakers complain about Federal Reserve's lack of diversity

Vox: Elizabeth Warren and more than 100 House Democrats blast lack of diversity at the Fed

Washington Post: Hillary Clinton to support Federal Reserve change sought by liberals

In a letter to the Federal Reserve released at noon, 126 members of Congress– including every single Democratic member of the Congressional Black Caucus, Senator Elizabeth Warren, Dean of the House and civil rights legend Rep. John Conyers, Senator Bernie Sanders, and House Financial Services Committee Ranking Member Maxine Waters – criticized the Federal Reserve for its striking diversity problem and failure to properly represent and reflect the American people.

Simultaneously, the Hillary Clinton campaign released a blockbuster statement, commenting on Fed governance and policy for the first time: “Secretary Clinton believes that the Fed needs to be more representative of America as a whole and that commonsense reforms — like getting bankers off the boards of regional Federal Reserve banks — are long overdue.”

The developments constitute an enormous and rapid victory for the Fed Up campaign. Only a month ago, Fed Up asked Secretary Clinton and the other presidential candidates where they stood on Fed governance and monetary policy issues and we joined a former Fed advisor in releasing a detailed proposal for reforming the Fed.

The Federal Reserve’s governance is dominated by white men and representatives of major corporate and financial firms. And its powerful regional banks, which help set the nation’s monetary policy, are in fact owned by Wall Street and commercial banks. But these facts were excluded from public discourse until the Fed Up campaign injected the voices of working families and communities of color into the debates about America’s monetary policy. 

The letter released by the members of Congress tied the Fed’s lack of diversity directly to its poor policy choices: “When the voices of women, African Americans, Latinos, and representatives of consumers and labor are excluded from key discussions, their interests are too often neglected . . . Given the critical linkage between monetary policy and the experiences of hardworking Americans, the importance of ensuring that such positions are filled by persons that reflect and represent the interests of our diverse country, cannot be understated.”

The letter cited a Fed Up / CPD report, “‘To Represent the Public’: The Federal Reserve’s Continued Failure to Represent the American People,” and an Economic Policy Institute report, “The Impact of Full Employment on African American Employment and Wages.”

Leaders of the Fed Up coalition from around the country called into their members of Congress offices in recent weeks, urging them to sign onto the letter.

The letter follows on the heels of Fed Up’s mobilization in Congress during Fed Chair Janet Yellen’s bi-annual testimony in front of Congress. There, we mobilized 100 leaders to attend the two days of hearings, receiving widespread attention in the press and enlisting 12 Representatives and 4 Senators to ask Chair Yellen questions based on our arguments. Because of our work, Congressional oversight of the Federal Reserve was dominated by questions of racial and economic equity for the first time in living memory.

Less than two years ago, when we launched the Fed Up campaign, Federal Reserve policy and governance was a minor issue ignored by most of the progressive movement.

Today, all of the biggest players in the Democratic Party – including the leading candidate for US President – just endorsed our vision for a central bank that reflects the American people and creates a strong economy for all communities.

Read more about our Fed Up campaign.