The Federal Reserve has 12 regional bank presidents. Ten of them are men and 11 of them are white. This is a troubling finding to lawmakers in Washington.

Politicians, including presidential candidate Bernie Sanders and Massachusetts Senator Elizabeth Warren, are urging the U.S. central bank to become more diverse, according to a new letter sent to Fed Chair Janet Yellen.

“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,” said the letter, signed by 116 members of Congress and 11 Senators.

A spokesperson for the Federal Reserve Board confirmed that the central bank has been working hard to incorporate diversity into its model. At the present time, the Fed is looking to bring on more women and minorities.

Today, one-quarter of minorities make up regional Fed bank boards, and nearly half of all directors are female or non-white.

Instead of trying to create politically correct diversity, why don’t members of Congress pen a letter urging the Fed to close its doors. At the very least, the likes of Warren and Sanders can encourage the Fed to bring in the likes of Ron Paul, Tom Woods or Robert Wenzel.

End the Fed…

By Andrew Moran

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