What Can the Fed Do to Promote Diversity at the Bank?

The video discusses the economic impact of the pandemic on minorities, highlighting higher unemployment rates among African Americans, Latinx, and Native Americans. It critiques the economics profession for its lack of diversity and explores the limitations of colorblind economic theory. The need for diversity in the Federal Reserve is emphasized, suggesting outreach to historically black colleges and universities. A report on the gender wage gap affecting black women is also discussed, quantifying a $50 billion annual loss to the black community.

What role do government intervention and social movements play in addressing economic biases and discrimination?

What steps can institutions like the Federal Reserve take to improve diversity in their recruitment processes?

How does the gender wage gap specifically affect black women in the workforce?