Politico: Warren leads crusade for diversity at Fed
The potential selection of a white man to head the New York Federal Reserve — the central bank’s second-most powerful job — has sparked a fierce backlash from Sen. Elizabeth Warren and other progressives, who are accusing the Fed of overlooking women and people of color.
The expected pick is John Williams, a Ph.D. economist who currently heads the San Francisco Fed. Fueling the torrent of criticism is that Williams’ reserve bank oversees Wells Fargo, the giant lender that has been consumed by scandals, including the opening of possibly millions of fake customer accounts.
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“Mr. Williams’ track record raises several questions, including about his fitness to supervise Wall Street banks given the San Francisco Fed’s inadequate supervision of Wells Fargo during its many consumer scandals,” Warren said in a statement.
Read the full article on the Politico website here.
By: Victoria Guida
Source: Politico
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