(LibertySociety.com) – It seems as though the Left’s “woke” culture is infecting everything — even the Federal Reserve. According to reports, the Fed banks in Minneapolis, Atlanta, and Boston are dedicating some resources to racial economic equality policies. A Republican senator is now calling the financial institutions out for it.
On Sunday, May 23, Senator Pat Toomey (R-PA) sent letters to the three Federal Reserve banks requesting information about their recent work on “politically charged social causes.” He said that injecting politics into their work is “wholly unrelated to the Federal Reserve’s statutory mandate.” The Federal Reserve’s job, according to Congress, is to achieve stable prices and job growth. Racial causes are not part of that mandate.
“I would caution you on the reputational damage being inflicted on … the @federalreserve as a whole by pursuing a highly politicized social agenda unrelated to monetary policy,” @SenToomey says. via @FredLucasWH @DailySignal https://t.co/Rt1Bk4YNfs
— Ken McIntyre (@KenMac55) May 25, 2021
Toomey said the banks’ work on racial issues is biased. The Fed banks said they received the letter from the senator and they would be reviewing it soon. They had no other comment.
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