Chairman Powell’s message to Federal Reserve System staff on diversity and inclusion
The Federal Reserve Board is committed to fostering an inclusive and diverse workforce. We believe that the best ideas, decisionmaking and, ultimately, service to the public are borne from diverse perspectives. We continue to work toward diversity and inclusion and are committed to our mission and our values. In our effort to practice open communication and transparency, the Board is making publicly available the workforce data it provides annually to the Equal Employment Opportunity Commission (EEO-1 Survey Data). The report format provided is created and required by the EEOC for all Federal Agencies and private employers with (a) 100 or more employees, or (b) 50 or more employees and a federal contract.
In January 2011, the Federal Reserve System established offices to promote diversity and inclusion at the Board and at the 12 Federal Reserve Banks. The offices build on the Federal Reserve System's long-standing efforts to promote equal employment opportunity and diversity, and will continue to work to foster diversity in procurement, with a focus on minority-owned and women-owned businesses. In addition to promoting diversity at the Board and throughout the System, the Board's Office of Diversity and Inclusion will play an integral role in the development of standards to assess the diversity practices at entities regulated by the Federal Reserve.