The St Louis Federal Reserve Bank is busily going woke (my term, not Belongia’s and Ireland’s). They describe the following failure of the St Louis Fed:
The Federal Reserve Bank of St Louis is in the early stages of creating an Institute for Economic Equity “to support an economy in which everyone can benefit regardless of race, ethnicity, gender, or where they live,” with an emphasis on “economic outcomes experienced by historically marginalized groups.”
This is a two-pronged failure, and a double disaster if it comes to fruition. By its own description, the St Louis Fed’s IEE is racist and sexist at its core. Beyond that, by pushing outcomes rather than opportunities, the IEE is fundamentally socialist.
And what does the drive to create such an office say about the St Louis Fed’s president and board members?