Federal Reserve Board (OIG Report 2015-MO-B-006): Number of Black Employees in All Other Pay Grades Fell during Period of 2011 to 2013; Reason for the Decline is Unclear

It is interesting to note that the Blacks, All Others category (2012 and 2013), lost 18 positions, but the gain in the mid-level (11) and senior managers (7) totaled 18. This result left the total number of Black employees the same.

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Federal Reserve Board (OIG Audit 2015-MO-B-006): Performance Ratings Differences Wrongly Diminished; Board’s New Performance Management Approach May Be Based on Grote Approach and Fierce Conversations; Glassdoor.com Review Discussed

I have reviewed a report by the Office of the Inspector General (OIG) for the Federal Reserve Board (Board) [The Board Can Enhance Its Diversity and Inclusion Efforts, Audit Report 2015-MO-B-006], and I am disappointed with the weakness of investigatory probing in the part of the report discussing the Board’s performance management policy. Specifically, I question the independence of the OIG when the OIG is following the Board’s performance management policy, yet the OIG does not describe the program in its audit report.

Moreover, the position of the Board’s Chief Operating Officer, Don Hammond, does not inspire confidence. Rather than addressing any signs of unfair and inequitable workplace practices, he makes arguments to defend the status quo. A status quo that includes Artis v. Bernanke (or Yellen) and Robert Auerbach’s observations.

Federal Reserve Board (OIG Audit 2015-MO-B-006): Inspector General Issues Audit Report on Board’s Diversity and Inclusion Processes; Board’s Claim of Total “Independence” Unjustified

Overall, I am disappointed with the overall stagnation of the Board; a situation caused by institutional zeal for broad independence through the Board’s citation of 12 U.S.C. section 244. It is unreasonable to expect the people of the United States in America to accept an “independence” stance that requires the Board, a federal agency, to be free from federal employment statutes that were adopted into law long after 1913, including civil rights laws and Title 5 of the U.S. Code.

The Fed’s Chair Has Sole Accountability for the Board’s Diversity and Inclusion

The Chair of the Federal Reserve Board is a Presidentially appointed and Senate-confirmed position. As such, the complete accountability belongs to the Chair. The Chair can have other advise him or her, but the accountability for results is 100 percent on the Chair, without exception. Shiela Clark cannot be relied upon, as she was involved … Continue reading The Fed’s Chair Has Sole Accountability for the Board’s Diversity and Inclusion

Federal Reserve Board: Board Issued 2018 Office of Minority and Women Inclusion Report; Slightly More Clarifying Information Included; Despite that Caution Still Advised

Given the issues presented by the IG previously and with the long running time of the now-ended Artis v. Greenspan Bernanke Yellen case, the Board’s activities with regard to diversity and inclusion remain an issue of moderate to grave concern until demonstrable, sustained and consistent improvement is shown. Meetings, scorecards, and reports are a start, but insufficient compared to firm and visible results.

The Congressional Tri-Caucus and the Federal Financial Regulatory Agencies

About this page On March 24, 2014, Representatives Maxine Waters (D-California), Al Green (D-Texas), as well as seven other members of Congress wrote a letter to the federal financial regulatory agencies (listed below) requesting a review of the agencies’ “internal operations to determine whether any personnel practices have created a discriminatory workplace or have otherwise … Continue reading The Congressional Tri-Caucus and the Federal Financial Regulatory Agencies

Federal Reserve Board: H.2 Release for Week Ending July 22, 2017; H.4.1 Release (Balance Sheet) for Week Ending July 27, 2017; Macroeconomics and “Colorblindness” = Wickedness

Of Note items— (1) From the Guardian Newspaper (United Kingdom) One quote about “balanced budgets”– “Despite these significant shifts, myths about the economy refuse to go away and hamper a more productive debate. They concern how the government manages public finances – “tax and spend”, if you will. The first is that there is an … Continue reading Federal Reserve Board: H.2 Release for Week Ending July 22, 2017; H.4.1 Release (Balance Sheet) for Week Ending July 27, 2017; Macroeconomics and “Colorblindness” = Wickedness