Democrats urge Dallas Fed to select a Latino for president

Twenty-two Democratic members of Congress are urging the Federal Reserve Bank of Dallas to appoint the first Latino regional president to fill the top position that’s been vacant since October.

“The Federal Reserve has a well-documented diversity problem,” said the May 5 letter that included three Texas representatives as co-signers.

The congressional contingent said increasing diversity and Latino representation “is critical to ensuring our public sector reflects our communities and the general population.”

When former Dallas Fed president Rob Kaplan and former Boston Fed president Eric Rosengren left their jobs last fall, Fed Chair Jerome Powell said the search process would put a “big focus” on finding diverse candidates to fill the roles.