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Atlanta Fed chief: Workplace diversity will boost US economy

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Raphael Bostic, president of the Federal Reserve Bank of Atlanta. The head of the Federal Reserve Bank in Atlanta says workplace diversity is not only a moral issue, but will boost the U.S. economy.

Raphael Bostic spoke to the Atlanta Journal-Constitution in a story published on Saturday. He’s been named the 2022 chair of the Metro Atlanta Chamber of Commerce.

Bostic four years ago became the first Black and the first openly gay person to head a regional bank. The Atlanta Federal Reserve district is made up of Alabama, Florida, Georgia and parts of Louisiana, Mississippi and Tennessee.

His role there includes talking to local business leaders, and Bostic — a Stanford University-trained economist — said he’s found not all executives see diversity as a priority. Some also struggle to measure or improve their performance in that area.

But Bostic said he believes diversity will improve the economy.

“In my role, my focus is on economics, the health of the U.S. economy and getting us to a place where we can experience the full potential of everyone,” he told the AJC. “It’s my view that, when we have more fulsome participation of everyone in the U.S. economy, the economy is actually going to grow […]

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