History was made under the Biden administration last week as the Federal Reserve announced Dr. Susan M. Collins to be named President and CEO of the Federal Reserve Bank of Boston. Her appointment makes her the first African-American female to serve on the Fed’s Board of Directors.
Congratulations to Dr. Collins. Unfortunately, given the state of the country at this time, government appointments can be bitter-sweet. As mentioned by Fortune, race seems to play a vital role in almost all facets of decision making:
Progressive Democrats have been pressing for greater diversity in leadership positions at the Fed, which has been dominated by White males.
Not only must race be factored into hiring decisions, but there must be a public display of it, with that well-known, ostentatious, self-congratulatory wokism that progressives have mastered. The Boston Fed’s press release exemplifies this when, on the announcement of her appointment, they proudly declared:
The search committee worked very hard to ensure a rigorous, open, and inclusive process…
But does this help, or hurt the country and race relations?
Because of announcements like these, some might look at this from a superficial standpoint and say she got the job because of race which could lead to further racial divide and become a possible point of contention amongst her peers.
However, let’s look at her pedigree:
Collins spent many years in the Boston area while earning her undergraduate degree at Harvard University (summa cum laude), earning her Ph.D. at the Massachusetts Institute of Technology…
She served as an assistant, then associate professor at Harvard, and that’s only the beginning of her career:
She also worked in Washington in roles including senior staff economist at the President’s Council of Economic Advisers, professor at Georgetown University, senior fellow in economic studies at the Brookings Institution, and visiting scholar at the International Monetary Fund.
This is just some of it, as she authored many research papers and:
…has a deep understanding of the Federal Reserve System’s inner workings, having served for nine years as a director at the Chicago Reserve Bank.
Perhaps we mustn’t get fooled by progressives and their proclivity to prove they aren’t racist. Her credentials speak for themselves. Her education and various accomplishments are exactly what the Federal Reserve System wants from its leadership, someone well versed in Neoclassical economics, while experience with the IMF and the Fed is nothing but an added bonus.
If, for no reason other than tact, no one announced the overabundance of “white males” at the Fed and the rigorous search for inclusivity, then they could simply hire based on credentials. Her ability to tow the line likely would have ensured Dr. Collins got the job anyway. Race need not play a factor in the hiring decision and there would not have to be a dark cloud of racial overhang around the entire affair.
Congratulations again to Dr. Collins. I’ll be waiting in the wings for her first press release, hoping she says something about the free market, liberty and freedom because that’s what matters most. Feel free to see my profile at Mises Institute. I assure you, I’d rather be judged not by the color of my skin, but by the content of my character… my articles, and fashion sense. I’m quite confident Dr. Collins would agree.
