Powell’s Fed on Defensive as Diversity Effort Comes Under Fire
Central bank pulls down web pages related to DEI program Fed squeezed by executive order and Dodd-Frank requirements
Donald Trump’s offensive against diversity, equity and inclusion programs is putting the US central bank in an uncomfortable squeeze. And so far, the Federal Reserve and its chair, Jerome Powell, appear to be falling in line with the president.
After Trump issued an executive order on Jan. 20 ending DEI programs across the federal government, the Fed took down pages on its website dedicated to diversity and inclusion, as did several of the central bank’s regional outposts. This week, the Dallas Fed backed out of plans to host an event for the Greater Houston LGBTQ+ Chamber of Commerce.
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