![]() ![]() The district encompasses Ohio, western Pennsylvania, eastern Kentucky and part of northern West Virginia. ![]() The bank launched its search earlier this month for a successor to President Loretta Mester, whose tenure ends next June. The lawmakers also urged the search committee to consider a diverse pool of candidates, noting that the Cleveland Fed has never had a Black president, despite 13% of Ohio’s population being Black.Ī Cleveland Fed spokesperson confirmed that the bank received the letter Tuesday and said the search committee appreciates the questions and will respond to the senators promptly. “As you move through the selection process, we highly encourage you to seek input from a wide range of stakeholders including labor, consumer, and civil rights groups.” ![]() “It is critical that the Cleveland Federal Reserve Bank makes the presidential selection process transparent and inclusive of public opinion,” wrote Brown and Fetterman, both of whom hail from the Cleveland Fed’s district. In a letter Tuesday, Senate Banking Committee Chairman Sherrod Brown of Ohio and Senator John Fetterman of Pennsylvania, who also serves on the panel, criticized the input process so far, pointing to the timing and lack of publicity for a virtual town hall event held Monday. (Bloomberg) - Two Democratic senators urged the Federal Reserve Bank of Cleveland to be more transparent in its search for a new president, involve key community groups and consider diverse candidates. ![]()
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