And as we worked to update our monetary policy framework, we hosted a series of listening events across the country before and during the pandemic, and these conversations factored importantly into our thinking and our new framework. Diversity in Economics Next, I would like to turn to an issue facing many of us at this conference—namely, how central banks as institutions and employers grapple with and confront diversity and inclusion within economics.
Collectively, we are among the largest employers in the field of economics, which both affects our own workplaces and affords us an opportunity to help influence and shape the evolution of the profession. Throughout my career, in both the public and the private sectors, I have seen that the best and most successful organizations are often the ones that have a strong and persistent commitment to diversity and inclusion.
These organizations consistently attract the best talent, by investing in and retaining a world-class workforce. I know that the central banks represented here today are indeed working diligently to do just that.
At the Fed, we are hosting events like this one, where high-quality economic research is brought to bear. We are working to foster an inclusive workplace environment where staff can feel comfortable at work and to promote a similarly inclusive culture within the profession. We are working to broaden our reach by recruiting at historically black colleges and universities and Hispanic-serving institutions, as well as by hosting events to promote career opportunities at the Fed. My colleagues and I know that both the opportunities and the challenges are great and that the work is never truly done.
Whether you are a researcher bringing your analytical skills to bear, or you are on the front lines of improving the diversity of the economics pipeline, or perhaps you are in an institution where you are redoubling your efforts to attract diverse talent, your endeavors are making a difference.
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Bernanke Chairman Board of Governors — Yellen Chair Board of Governors — Federal Reserve History. Regardless of his choice for the top Fed job, Biden will have a chance to shape the rest of the seven-member board.
One seat is currently vacant. Governor Randal Quarles, until recently the Fed's vice chair of supervision, plans to resign at the end of the year, and Vice Chair Richard Clarida's term ends in January. If Biden passes over Brainard for the Fed chairmanship, he could put her in Quarles' old job, which she could use to write stricter rules for Wall Street and potentially take a more active approach on climate change, both important priorities for progressives.
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