Political Quotes

“I want to thank the gentleman from Guam (Mr. San Nicolas), vice chair, for his leadership and for all his support. And to the gentleman from Ohio (Mr. Stivers), my colleague, thank you for your support. Mr. Speaker, I have the distinct honor to chair the Committee on Financial Services' Subcommittee on Diversity and Inclusion. And we have heard from numerous experts and we had countless research reports that show more diverse executive teams are more likely to outperform their peers on profitability, be more stable, and increase their market share. According to a study conducted by McKinsey & Company entitled, Delivering through Diversity, researchers have found that companies in the top 25 percent for gender and ethnic diversity on executive teams were 21 percent to 33 percent more likely to outperform on profitability. While companies in the bottom 25 percent for both gender and ethnic diversity were 29 percent less likely, Mr. Speaker, to achieve above- average profitability. That is why it is so important that we pass my bill, the Ensuring Diverse Leadership Act of 2019, or better referred to as H.R. 281, which would require at least one individual reflective of gender diversity and one individual reflective of racial or ethnic diversity to be interviewed for each Federal Reserve president vacancy. {time} 1345 Mr.…”