October 19, 2016 / 12:50 PM / a year ago

Fed not as diverse as it should be, Williams says

NEWARK, N.J., Oct 19 (Reuters) - The Federal Reserve has not done enough to make itself as diverse as it should be, San Francisco Federal Reserve Bank President John Williams said on Wednesday.

“If we don’t attract and retain diverse employees, we are missing out on a huge and growing part of the labor force,” Williams said in remarks prepared for delivery at a conference on diversity in the financial services industry at Rutgers University. “Diverse perspectives often lead to better thinking and better outcomes.”

Among steps the San Francisco Fed has recently taken, he said, is the creation of a new community advisory council that will begin regular meetings next year. The group will “ensure that we are hearing a wide range of voices and perspectives from throughout our District,” he said.

He made no remarks on the economic outlook or on monetary policy. (Reporting by Dion Rabouin, writing by Ann Saphir; Editing by Chizu Nomiyama)

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