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WASHINGTON J. Monroe Gamble IV was the first Black research assistant to work at the Federal Reserve Bank of San Francisco. He started in 2018.
That one data point speaks to a broader reality: Even as America’s central bank dedicates research and attention to racial economic outcomes and publicly champions inclusion, it has had a poor record of building a workforce that looks like the population it is meant to serve.
Many parts of the Fed system, which includes the Federal Reserve Board in Washington and 12 regional banks, began to concentrate more intently on diversifying their heavily white economics staffs only within the past decade, prompted in part by the 2010 Dodd Frank Act, which pushed the board to hire more broadly. When it comes to employing Black economists in particular, the central bank still falls short.
Why are there so few Black economists at the Fed? - The Business Journals
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VT Nuclear Education: The Beirut Coverup and Jewish Lightning (updated) – Veterans Today | Military Foreign Affairs Policy Journal for Clandestine Services
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Steve s note: Bitcoin and other cryptocurrencies are getting a lot of attention these days. So today, we re sharing another essay from my friend and colleague Eric Wade. He explains why he believes bitcoin will go mainstream – sooner than most people think.
As central banks around the world spin up their money printers, the rise of cryptocurrencies will not just blow up the old model of banking.
It s going to completely reset the entire financial system – starting with the U.S. dollar.
What exactly is the monetary policy for the dollar? I can tell you. It s a small committee of bankers who lick their fingers and lift them in the air to gauge which way the market is going.
https://www.nysun.com/national/bidens-borrowing-a-problem-for-president-harris/91408/
President Bidens opening move has been to propose a $1.9 trillion pandemic recovery spending plan, on top of the $2 trillion approved in March 2020, $484 billion in April 2020, and the $900 billion in December 2020. All indications are that Mr. Biden plans to follow that with a $2 trillion build back better plan for spending on transportation, energy, infrastructure, health care, and countering climate change.
Its easier to get Congress to approve spending than taxing, so the $4 trillion Biden spending binge is likely to be funded largely with borrowing. That is promoting some pushback from Republicans, who observe that the national debt is already at $27 trillion, a record in nominal terms.