Diversity within the Federal Reserve System



Given that Class A directors are explicitly bankers elected by bankers, it is perhaps unsurprising to see their predominance. But a trend since roughly 1980 includes a substantial and growing number of non-banking finance representatives as the third-most represented single group, after banking and manufacturing. The influence of finance on the Reserve Banks’ governance remains very strong, even among the classes of directors meant to represent other interests.

Author(s): Peter Conti-Brown, Kaleb Nygaard

Publication Date: 13 April 2021

Publication Site: Brookings