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An earlier version corrected the reference to the lack of US fed-fed leadership in paragraph 7..
Thirty-four US lawmakers urged President Joe Biden to appoint a Latino to fill the vacancy created on the Federal Reserve’s Board of Governors by the resignation of Vice Chair Lael Brainard.
Hispanic caucus members in Congress, under the direction of Robert Menendez, new jersey state senator, called for what would be the first nomination of a Latino to a management post at the central bank in a letter sent to biden on Friday.
"Despite being the largest and fastest growing minority population in the United States, Latino Americans have been consistently under-represented on the federal reserve," legislators wrote. “The appointment of a qualified Latino candidate to the Board of Governors would be a critical step in bringing diverse perspectives to our nation’s central bank.”
Biden on Tuesday Brainard as his new director of the National Economic Council.
To fill the vacancy on the board of directors set up, the President may appoint a new Vice-President or appoint a current Governor to that office, and then appoint another candidate to fill the position of Governor.
The White House press secretary, Karine Jean-Pierre, refused to say whether the chair would heed the call of the Hispanic caucus. The White House press secretary, Karine Jean-Pierre, refused to say if the chair would consider the request of the Hispanic caucus.
But she said it was a major vacancy "which the president will make a priority to fill." Last year, biden put Lisa Cook on the list, the first black woman governor of the council, And Boston has chosen Susan Collins, She's the first black woman in a reserve bank, like his new chairman.
On the Fed's Washington board of directors, only five percent of employees are Hispanic. 7 per cent of economists are Latinos, which together represent 19 per cent of our population. Minneapolis fed chair neel kashkari is the son of Indian immigrants.
No Asian American has ever been in government. The legislators' effort is the final stage of a campaign over the years by Menendez and other caucus members to raise a Latino to the top of the federal reserve. Legislators made similar appeals recently when the chairmanships of the reserve banks in Boston, Dallas, Chicago and Kansas City were vacant.
Kansas City has not yet been fully staffed, even though its long-time leader, Esther George, retired late last month. The Dallas Fed district is about 40% Latino.
— With assistance by Akayla Gardner
