Fed aims for broader diversity at senior levels

Research by the Federal Reserve across its 12 regional banks shows progress in increasing diversity among the highest echelons, with directors from underrepresented racial or ethnic groups growing to 34% from 29% in a year and women making up 44% of directors, compared with 28% in 2016. “There is loads of research that shows the quality of decision-making is better among groups that are diverse in their composition and their experiences than homogeneous groups,” Fed Governor Lael Brainard says.