The Federal Reserve Bank of Boston is an institution that's been around since 1914. With a storied line of thirteen past presidents, there has only been one female leader. But now, after Eric Rosengren's resignation in September of 2021, Boston Fed will be led by a black female named Susan Collins.
That's right: as of July 1st, 2022, Collins will have been made the official president of the Boston Fed. Aaron Klein, a senior fellow in Economic Studies at the Brookings Institution, states proudly, "It is a remarkable advancement when you consider that America had a Black president before any of the 12 regional banks had a Black president."
Dr. Susan Collins brings with her a decorated past after serving on the Board of Directors for the Bank of Chicago for nine years and taking a seat among the boards of the Peterson Institute for International Economics and the National Bureau of Economic Research. Klein has high hopes for Collins' future by saying, "Dr. Collins will bring a fresh perspective to the Fed, which could benefit from new thinking."
This kind of forward progression of diversity and inclusion stands to benefit banks and corporations across America as a whole. For example, Lisa Cook is a strong candidate for becoming the first black female to serve on the Board of Governors. This is the kind of forward-thinking many hope to see expand in the future.
