Sen. Bob Menendez (D-NJ) used a Senate Banking Committee hearing with Federal Reserve Chair Jerome Powell on Tuesday to excoriate President Joe Biden for not appointing more Latinos to the Federal Reserve board.
Menendez, who has a committee vote for Fed nominees, has long asked the Biden administration to nominate someone of Hispanic descent for the Fed.
Apparently fed up with the Biden administration, he used his opening statement to call for Biden to nominate a Latino to the Federal Reserve board.
He said:
There are more than 62 million Latinos that call the United States home. We are the largest minority group in the country. We account for nearly 20 percent of the United States population. We contribute almost three trillion dollars in GDP. Yet, Latinos have no representation in the Federal Reserve’s leadership. In the 109 years history of the Federal Reserve, there has never, never, been a single member of the board of governors or regional bank presidents who has the…
