Janet Yellen, the first female chair of the Federal Reserve, is giving welcoming remarks Thursday morning at the Fed's National Summit on Diversity in the Economics Profession in Washington.
In her speech, Yellen noted that both economics and finance recognized that diversity was fundamentally important to good outcomes, and that the Fed was "committed to achieving further progress, and to better understanding the challenges to improving diversity throughout the economics profession."
The meat of Yellen's speech is at the end, when she focuses on how and why the economics profession fails to recruit a more diverse population in college and graduate schools, and whether better recruitment could have prevented some of the major failures of the profession (failure to predict the financial crisis, for one) in recent years. Here is the key passage (emphasis ours):
Read more: http://www.businessinsider.com/janet...#ixzz3HeRslgcY
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