I have spent most of my career in the private sector, and what I observed was that really successful institutions in the United States--companies, organizations--generally are those that do a really good job on diversity and get the best out of people and attract a broad, diverse range of talents to the table, and people feel comfortable speaking.
Powell emphasizes the importance of diversity for successful institutions.
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More from Jerome Powell
Without the ability to pay interest on reserves, the Fed would lose control over rates
If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well.
If we move too slowly, there may be unnecessary losses, painful losses in the employment market.
The public would lose faith that the central bank will make decisions based only on what’s best for all Americans.
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