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Analysis-Biden has a chance to make the Fed’s board look more like America

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Reuters

By Jonnelle Marte and Lindsay Dunsmuir (Reuters) – As U.S. President Joe Biden assesses whether to reappoint Federal Reserve Chair Jerome Powell and nominate as many as three others to the central bank’s powerful board, he has the opportunity to revamp a leadership team long criticized for being too white and too male. The stakes are high for an institution that has failed to reflect the racial, ethnic and gender makeup of the United States, and recently promised to do better. The Fed sets monetary policy, a primary lever in controlling the cost of money and the availability of credit, in a na…

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