Federal Reserve Racial and Economic Equity Act

Bill 118 s 2257, also known as the Federal Reserve Racial and Economic Equity Act, is a piece of legislation introduced in the US Congress. The main goal of this bill is to address racial and economic disparities within the Federal Reserve System.

The bill aims to promote diversity and inclusion within the Federal Reserve by requiring the Board of Governors to establish an Office of Racial and Economic Equity. This office would be responsible for conducting research and analysis on the impact of Federal Reserve policies on racial and economic disparities, as well as developing strategies to address these disparities.

Additionally, the bill requires the Federal Reserve to report annually to Congress on its efforts to promote racial and economic equity, including data on the diversity of its workforce and the impact of its policies on marginalized communities. Overall, the Federal Reserve Racial and Economic Equity Act seeks to ensure that the Federal Reserve is actively working to address racial and economic disparities in its policies and practices.