Senate Republicans Expand Investigation into ‘Woke Mission Creep’ of Federal Reserve
May 25, 2021 | District of Columbia
Senate Banking Committee Republicans have expanded an investigation into regional Federal Reserve banks over their alleged “woke mission creep.”
Republicans on the Senate Banking Committee sent letters to regional Federal Reserve banks in Minneapolis, Boston and Atlanta demanding a briefing with leaders and documents related to a recent “Racism and the Economy” initiative, GOP staffers said during a press briefing Monday morning. Engaging in political advocacy is out of the Fed’s purview, the letters said.
“Of course, racism is abhorrent and has no place in our society…. I recognize the interest in studying economic disparities along demographic lines, such as race and gender,” Banking Committee Ranking Member Pat Toomey wrote in the letters sent Sunday.
“However, this subject matter is fraught with ideological assumptions and interpretations, and the work and analysis of the [Minneapolis, Boston and Atlanta Fed] seems heavily laden with political and value judgments,” he wrote…
(Excerpts from the Virginia Star)
