Leftists whine that Federal Reserve has too many white men

Not even monetary policy is immune from the inane identity politics…

It is being reported that John Williams, head of the Federal Reserve Bank of San Francisco, is replacing exiting Federal Reserve Bank of New York chief William Dudley. This has the left livid, and it isn’t because they are demanding Austrians at the Fed.

Forget that the United States central bank has eliminated 90 percent of the dollar’s value, printed trillions of dollars in new money, created the booms and busts, and enabled Washington’s reckless spending. Let’s just concentrate on a policymaker’s skin color or genitalia instead!

But that’s exactly what some are advocating, including Senator Cory Booker (D-NJ) and Fed Up Coalition.

Booker writes about having a black person or a woman helm the FRBNY:

“The New York Fed has never had a woman or a person of color at its helm, and the Federal Reserve Bank only just last year added its first black regional bank president. If we’re serious about creating an inclusive and sustainable economy, no one should be left on the sidelines.”

Fed Up is upset that the central bank promised diversity and it has yet to deliver on that pledge.

“The search for the next New York Fed president began with commitments to diversity and gestures toward public engagement and has ended with the appointment of Williams, a white male,” the group stated. “The public clearly articulated what we wanted in a New York Fed president, and we were ignored.”

Does it really matter if a person at the Fed is black or white? They’re both going to advocate for more money printing, artificially manipulating interest rates, and even more central planning of the economy anyway.

A guy like Booker would be better off working with Senator Rand Paul (R-KY) in bringing transparency to the fed, not injecting social justice into the Eccles Building. Fed Up, meanwhile, should partner with Ron Paul to end the institution!