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Article: HOUSE BANKING UNIT QUESTIONS MAKEUP OF FEDERAL RESERVE.(Business)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- September 4, 1990
CopyrightCOPYRIGHT 1990 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Martin Crutsinger Associated Press
The Federal Reserve, the government's most influential economic policy-making institution, is overwhelmingly dominated by white men, most of whom have close ties to the banking industry, according to a congressional study.
The report, prepared at the direction of House Banking Committee Chairman Henry B. Gonzalez and released Monday, found only a handful of women or minorities serving in top policy-making jobs in Washington or as directors of the Fed's 12 regional banks and 25 branch banks across the country.
And despite a 1977 law requiring diversity of membership and public participation on the Fed ...