Joe Biden has appointed three people to the board of the Federal Reserve in what would usher in the most diverse group in the Fed's history - and the most woke.
The President intends to nominate a White woman, Sarah Bloom Raskin; a Black woman, Lisa Cook; and a Black man, Philip Jefferson.
If they are approved for their seats, the seven-person Fed board would have four women, one Black man, and two White men - the most diverse team in the Fed's 108 years of existence.
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All three have proven Liberal credentials.
Bloom Raskin, 60, is married to Congressman Jamie Raskin - a Democrat representing Maryland in the House.
She spent four years as a Fed governor before being chosen as a deputy Treasury secretary from 2014-2017, and has been nominated to work as Vice-Chair of supervision - a job created to supervise the country's largest banks after the 2008 financial crisis.
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She is predicted to bring tougher supervision to bear on Wall Street than the Fed's previous Vice-Chair of supervision, Randal Quarles, the founder of a private investment firm nominated to the post by Donald Trump, who left the Fed at the end of last year.
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Currently teaching at Duke University School of Law, Raskin has a particular focus on the threats climate change poses to the financial system and the need for regulators to reply.
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The Massachusetts-born economist has spoken regarding the economic and financial stability risks tied to climate change. She could demand changes in how institutions weigh and reveal climate change policies.
"There is no longer any doubt that climate change will continue to impose deep economic and financial costs on households, communities, businesses, and entire countries," she announced in a September article for Project Syndicate.
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"Many of these risks can still be mitigated, but only if regulators in the United States break some bad habits."
Raskin announced that regulators have to "ask themselves how their existing instruments can be used to incentivize a rapid, orderly, and just transition away from high-emission and biodiversity-destroying investments."
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She went on: "In light of the unpredictable – but clearly intensifying – effects on the economy, US regulators will need to leave their comfort zone and act early before the problem worsens and becomes even more expensive to address."
And in April, she told a forum at Berkeley that the Fed has to be more proactive in fighting climate change.
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"We have begun to move toward an economy and society that's better for us, that provides durable benefits in terms of human health, economic well-being and inclusive prosperity for all our households, businesses and innovators," Raskin announced.
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