The Federal Reserve has removed a “Diversity and Inclusion” section from its website, including links to its diversity standards and demographic data of its economists and researchers. The change occurred around the time of President Donald Trump’s inauguration. The Fed did not comment on the move, but it aligns with an executive order issued by Trump, which instructed government agencies to end diversity, equity, and inclusion (DEI) programs, including recruitment efforts.
The diversity standards removed had been in place since 2016, as part of reforms required by the 2010 Dodd-Frank Act. Despite the move, Federal Reserve Chairman Jerome Powell has long supported diversity as essential for institutional strength. He has emphasized that broadening hiring practices leads to better outcomes, citing his experience in both public and private sectors.
The Fed’s efforts to diversify its workforce have included outreach to historically black colleges and universities, as well as Hispanic-serving institutions. Powell’s 2023 visit to Spelman College, a historically Black women’s institution, underscored these efforts.
While it’s unclear how the changes will impact the Fed’s hiring practices, the shift reflects broader political debates over DEI programs. Proponents argue they address systemic inequality, while opponents claim they lead to unfair discrimination. The removal of these pages from the Federal Reserve’s website also affected the regional Fed banks, with some links returning “Page Not Found” errors.
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