{"id":1526880,"date":"2022-06-23T14:04:13","date_gmt":"2022-06-23T18:04:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1526880"},"modified":"2022-06-23T14:04:16","modified_gmt":"2022-06-23T18:04:16","slug":"house-passed-woke-mandate-would-force-federal-reserve-to-prioritize-racial-equity","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-passed-woke-mandate-would-force-federal-reserve-to-prioritize-racial-equity\/","title":{"rendered":"House-Passed \u2018Woke Mandate\u2019 Would Force Federal Reserve To Prioritize Racial Equity"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhouse-passed-woke-mandate-would-force-federal-reserve-to-prioritize-racial-equity%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1526880&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div>\n\t\t\t<span class=\"article-category\"><a class=\"\" href=\"https:\/\/freebeacon.com\/latest-news\/\">Latest News<\/a><\/span><\/p>\n<p class=\"article-excerpt\">The economy is on the brink of a recession<\/p>\n<figure class=\"post-thumbnail-container relative lg:mr-24 w-full my-4 mb-8\"><figcaption class=\"absolute text-white p-4 w-full text-right text-xs bottom-0 bg-black opacity-75\">\n\t\t\t\tHouse Democrats, including Speaker Nancy Pelosi (Calif.) and Rep. Maxine Waters (Calif.), in 2019 \/ Getty Images\t\t\t<\/figcaption><\/figure>\n<p>\t\t\t<span class=\"text-gray text-xs md:text-lg\"><a href=\"https:\/\/freebeacon.com\/author\/robert-schmad\/\" title=\"Posts by Robert Schmad\" class=\"author url fn text-red-700\" rel=\"author\">Robert Schmad<\/a> \u2022 June 23, 2022 2:00 pm<\/span><\/p><\/div>\n<div>\n<p>A Democratic bill that\u00a0passed the House last Wednesday would require the Federal Reserve to make &#8220;the elimination of disparities across racial and ethnic groups&#8221; one of its priorities.<\/p>\n<p>The Federal Reserve Racial and Economic Equity Act, which Rep. Maxine Waters (D., Calif.) introduced in April, would\u00a0<a href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/2543\/text#toc-H3A58949D002E42EE8E8F821816C8DF50\" target=\"_blank\" rel=\"noopener\">mandate<\/a> that the Fed &#8220;include a diversity inclusion component&#8221; when rating banks and require &#8220;diverse leadership&#8221; of the central banking system. To attain a high rating under the proposed law, banks will need to provide diversity and inclusion training, hire a diversity and inclusion officer, and institute hiring practices that encourage diversity and inclusion.<\/p>\n<p>The bill comes as the economy is on the brink of <a href=\"https:\/\/freebeacon.com\/latest-news\/stock-market-plunges-as-inflation-fears-soar\/\">recession<\/a>, as <a href=\"https:\/\/freebeacon.com\/latest-news\/inflation-skyrockets-again-beats-40-year-record\/\">inflation<\/a> reaches numbers not seen in 40 years, and as the Fed <a href=\"https:\/\/freebeacon.com\/biden-administration\/bidens-about-to-lose-one-of-his-economic-talking-points\/\">predicts<\/a> that more than a million Americans could lose their jobs next year.<\/p>\n<p>Under President Joe Biden, who supports the bill, the government has prioritized &#8220;diversity, equity, and inclusion,&#8221; left-wing policies and programs that focus on race but view &#8220;equality&#8221; as inadequate at addressing systemic racism. Biden&#8217;s Department of Homeland Security, for example, has <a href=\"https:\/\/freebeacon.com\/biden-administration\/homeland-security-diversity-and-inclusion\/\">emphasized<\/a> such measures even as illegal border crossings and opioid trafficking skyrocket.<\/p>\n<p>&#8220;Race-, ethnicity-, and gender-neutral efforts alone are insufficient to address&#8221; a lack of diversity, Waters&#8217;s bill states.<\/p>\n<p>Three Democrats and 204 Republicans voted against the bill. One Democrat and five Republicans did not vote.<\/p>\n<p>The <em>Wall Street Journal<\/em>\u00a0in a Tuesday editorial <a href=\"https:\/\/www.wsj.com\/articles\/a-woke-mandate-for-the-federal-reserve-racial-equity-congress-house-joe-biden-11655659047\" target=\"_blank\" rel=\"noopener\">slammed<\/a> the bill, calling it a &#8220;woke mandate&#8221; that would &#8220;politicize monetary policy and financial regulation.&#8221;<\/p>\n<p>The bill&#8217;s &#8220;racial favoritism&#8221; violates both the Constitution and the Fed&#8217;s official duties, the board argued.<\/p>\n<p>Biden in a <em>Journal<\/em> op-ed last month <a href=\"https:\/\/freebeacon.com\/biden-administration\/biden-publishes-historic-recovery-as-us-barrels-toward-recession\/\">wrote<\/a> that he would not demean or try to influence the Fed.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Latest News The economy is on the brink of a recession  House Democrats, including Speaker Nancy Pelosi (Calif.) and Rep. Maxine Waters (Calif.), in 2019 \/ Getty<\/p>\n","protected":false},"author":894,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1526880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1526880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1526880"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1526880\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1526880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1526880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1526880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}