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 March 9, 2023

Senate Democrat Bob Menendez slams Biden admin over Fed Reserve hires

With the poor state of the Biden administration, one never knows who will turn on the current White House. It's getting so bad that even prominent Democrats are doing just that. 

According to Breitbart, New Jersey Democratic Sen. Bob Menendez this week during a hearing excoriated the Biden administration for not appointing Latinos to the Federal Reserve board.

Menendez made his grievances known during a Senate Banking Committee hearing with Federal Reserve Chair Jerome Powell this week.

The New Jersey Democrat has reportedly for a long time asked Biden to nominate a board member of Hispanic descent.

"There are more than 62 million Latinos that call the United States home. We are the largest minority group in the country. We account for nearly 20 percent of the United States population. We contribute almost three trillion dollars in GDP," Menendez said in his opening during the hearing.

He added, "Yet, Latinos have no representation in the Federal Reserve’s leadership. In the 109 years history of the Federal Reserve, there has never, never, been a single member of the board of governors or regional bank presidents who has the lived experience of being a Latino in the United States, and in practice, that means that the voices of nearly one-fifth of our country’s people are repeatedly drowned out when the Fed is making critical decisions on economic policy."

The New Jersey senator has been extremely vocal about the issue over the past week, especially on social media.

"Today, I reiterated to Chair Powell the importance of securing Latino representation on the @federalreserve’s Board of Governors. I hope the Administration makes the right choice with this nomination and finally gives Latinos a voice at the highest level of the Fed," Menendez tweeted Tuesday.

The senator doubled down on his push for the Biden administration to appoint Latinos or Latinas to the Fed board.

"In the Federal Reserve’s 109-year history a Latino or Latina has never served on the Board of Governors.@POTUS has a historic opportunity to change that. Now is the time to nominate a highly qualified Latino American to the Fed’s Board of Governors," he tweeted Wednesday.

Given that the current White House prioritizes skin color, gender, and sexual preference over merit and skill, it wouldn't be surprising to see open Fed board seats filled that way.

Hopefully, in 2024 we elect a president with an administration that isn't racist like the Biden administration and puts the most qualified people in all positions of power.

Written By:
Ryan Ledendecker

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