Costa, Congressional Hispanic Caucus urge President Biden to nominate a highly-qualified Latino American to the Federal Reserve

WASHINGTON - Congressman Jim Costa joined the Congressional Hispanic Caucus in a letter urging President Joe Biden to seize this historic moment to nominate a highly qualified Latino American to the Federal Reserve’s Board of Governors. The members emphasized how in the Fed’s 109-year history a Latino American has never served on the Board of Governors or as president of a regional Federal Reserve Bank, despite being the fasted-growing demographic group with a $2.8 trillion economic output.

“As you consider nominees to fill the vacancy on the Federal Reserve Board of Governors, we strongly urge the Administration to nominate a qualified Latino candidate to fill this position,” wrote the members. “Despite being the United States’ largest and fastest-growing minority population, Latinos have been persistently underrepresented at the Federal Reserve.”

Read the full letter here.