Democrats Demand a Fed Racial-Equity Mandate
Following calls in recent Biden campaign statements, HFSC Chairwoman Waters (D-CA) has led the way in introducing House and Senate legislation to add a racial-equity reporting mandate to the Fed’s charter.  We will shortly provide clients with an in-depth assessment of the measure, but the bill – H.R. 7946 in the House – does not appear to do more than the campaign statements – i.e., it does not add an affirmative action mandate but rather requires certain reports and documentation of Fed action within  the dual mandate to address them.