Indeed, at the highest levels of that process, the Federal Reserve under Chair Janet Yellen and with the strong support of the Governors and Reserve Bank Presidents is committed to increasing diversity among the top-ranking staff at the Board and among leaders of the Reserve Banks.
In the tradition of the discipline of economics, I have cited empirical support for the argument that diversity is good for economics. I know from my own personal experience we can and must do better, and in that spirit I want to tell you about one of my experiences that might resonate with some of you here.