On February 14, CPD’s Fed Up campaign released a new report: Working People Still Need a Voice at the Fed: 2018 Diversity Analysis of the Federal Reserve Bank Directors. It analyzes the gender, racial, and occupational diversity of the 2018 appointees to the twelve Federal Reserve Regional Bank Boards of Directors. The analysis finds that while the Federal Reserve has made modest progress in gender and racial diversity, Fed directors from business and banking continue to dominate leadership positions and fail to represent the interests of labor and consumers. 

When people of color, women, labor representatives, consumer advocates, non-profit professionals, community activists, and academics are underrepresented within the Fed’s leadership, policymaking at the Federal Reserve ends up skewed towards the interests of bankers and businesspeople. To ensure that its policy is maximally inclusive and truly takes into consideration economic conditions for all regions and demographics, the Federal Reserve must hear from people of color and women, workers and not just employers, debtors and not just creditors. Read the full report on our website!