National Urban League President and CEO Marc H. Morial; National Urban League Chief Economist Dr. Bernard Anderson; The University of Texas Rio Grande Valley Associate Vice Provost and Professor Dr. Marie Mora; Pipeline Opportunity Program President and CEO Dr. Lucy Reuben; and Urban Affairs Coalition President and CEO Sharmain Matlock-Turnermet with Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, on the issue of diversity. Mr. Morial released the following statement:
“This afternoon, I joined a group of leading African American and Latino economists to meet with Federal Reserve Chair Janet Yellen about the lack of diversity throughout the Federal Reserve System, and how the National Urban League could work with Chair Yellen to address these concerns. While, to the Chair’s credit, workforce and supplier diversity have increased under her leadership, there is significant room for improvement. As a historic civil rights and urban advocacy organization dedicated to economic empowerment and is active on such economic policy issues as jobs, housing and small business, we hope that Chair Yellen will thoughtfully consider the suggestions made during today’s meeting. Those suggestions included providing greater latitude to their Office of Diversity and Inclusion to recruit and procure diverse talent and businesses; creating pathways for leaders of community, labor and economic organizations to serve on regional bank boards; and contracting with firms of color from each racial subgroup.
“As we know, the benefits of diversity are undisputed. Yet, the Federal Reserve has never had an African American regional bank president. Less than one percent of the Board’s contracting opportunities went to African Americans and less than six percent to Latinos. And combined, African Americans and Latinos make up only nine percent of the senior level officers at the Federal Reserve.
“People of color must be at the table when financial policy decisions are being considered, since many of these policies disproportionately affect us. Issues like income inequality, wage stagnation, and high unemployment in communities of color will go largely ignored if our most influential economic policymakers do not reflect the entire American public.
“Overall, I was very encouraged by the open dialogue and willingness of Chair Yellen to prioritize diversity and inclusion throughout the Federal Reserve System. The National Urban League looks forward to furthering our relationship with Chair Yellen and to ultimately hold up the System as a shining example of inclusion and best practices.”
National Urban League is a historic civil rights and urban advocacy organization dedicated to economic empowerment in historically underserved urban communities. Founded in 1910, the National Urban League has improved the lives of tens of millions of people nationwide through direct service programs that are implemented locally by its 88 Urban League affiliates in 36 states and the District of Columbia. The organization also conducts public policy and advocacy activities from its Washington, D.C. bureau.
Dr. Bernard E. Anderson is the Whitney M. Young, Jr. Professor Emeritus, the Wharton School, University of Pennsylvania, Philadelphia, PA. An economist, he was the second African American appointed to the Wharton School faculty--- appointed in 1969, a decade after his professor, mentor, and friend, the late Dr. Andrew F. Brimmer.At various times in his academic career, he was lecturer at Swarthmore College, and Visiting Fellow, Woodrow Wilson School, Princeton University. His fields of concentration are labor economics, economic performance, and community economic revitalization. He is the author of six books and numerous scholarly and popular publications on those topics. He currently serves as the National Urban League’s Chief Economist.
Dr. Marie T. Mora is Associate Vice Provost for Faculty Diversity and Professor of Economics at The University of Texas Rio Grande Valley. Marie earned her Ph.D. in Economics from Texas A&M University, and B.A. and M.A. degrees from the University of New Mexico. Marie is nationally recognized for her research on Hispanic socioeconomic outcomes, and has been invited to share her expertise with a variety of agencies and organizations, including the White House Council of Economic Advisers, the Board of Governors of the Federal Reserve System, the U.S. Department of Labor, and others.Her publications include over 40 refereed authored/co-authored journal articles and book chapters, an award-winning co-authored bookwith Alberto Dávila, Hispanic Entrepreneurs in the 2000s: An Economic Profile and Policy Implications.
Dr. Lucy J. Reuben is President and CEO of the PhD Pipeline Opportunity Program as well as a consultant for businesses and academic institutions. She previously served as Professor of Practice in Business Administration at Duke University, where she was the Curriculum Director for the LEAD Summer Business Institute. Reuben created and directed the DukeEngage Program for Entrepreneurship and Economic Development in the Republic of Trinidad and Tobago, and received the University’s 2011 “Equity, Diversity and Inclusion Award.”A graduate of Oberlin College, Reuben earned Ph.D. and M.B.A degrees from the University of Michigan, with postdoctoral studies in business related fields. S
Sharmain Matlock-Turner is the President and CEO of the Urban Affairs Coalition. She began her tenure at the Coalition in March of 1999, with a special distinction as the first woman to lead in the organization’s 46-year history. The Urban Affairs Coalition unites government, business, neighborhoods, and individual initiative to improve the quality of life in the region.The organization’s efforts are focused in four areas: improving life changes for youth and young adults; building wealth in low income communities; strengthening the grassroots nonprofit sector; and forging strategic partnerships across sectors and communities. To date, the organization has successfully managed more than one billion dollars in public and private investment to support community based programs and services.Matlock-Turner holds a BS degree in Education from Temple University, a certificate in Nonprofit Management from the Harvard Business School and an honorary Doctor of Humane Letters from Pierce College.
