Nevada U.S. Senator Catherine Cortez Masto is cosponsoring Federal Reserve reform legislation introduced by Massachusetts Senator Elizabeth Warren and New York Senator Kirsten Gillibrand aiming to address racial economic inequality.
The Federal Reserve Racial and Economic Equality Act would require the Fed to consider racial disparities when making decisions and report on these disparities in its semi-annual reporting.
The bill would add a new section to the Federal Reserve Act that would require the Fed to carry out its functions in a way that “minimizes and eliminates racial disparities in employment, wages, wealth, and access to affordable credit.”
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