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Senators Ask Powell to Alter Fed-Pick Process to Boost Diversity

“The current makeup of the Federal Reserve banks does not reflect the demographic and economic diversity of the districts they serve,” Menendez and senators Sherrod Brown, Elizabeth Warren, Catherine Cortez Masto, Ben Ray Lujan, Bernie Sanders, Richard Durbin, Raphael Warnock and Alex Padilla wrote in a letter sent to Powell on Tuesday.

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