Black finance professionals push for top posts in Biden administration

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Progressive Democrats are mobilizing to demand the Biden administration refrains from interviewing people with corporate ties

As President-elect Joe Biden‘s transition team focuses on filling senior White House, Cabinet and federal posts, progressive Democrats are mobilizing to make their voices heard in the process.

The left-leaning wing of the Democratic Party is demanding that the incoming administration not include anyone with corporate ties.

Black bank executives, however, are pushing back on that objective, arguing that shutting out finance-industry executives would unfairly disqualify experienced minority candidates from top jobs in the executive branch, according to Crain’s New York Business.

President-elect Joe Biden, joined by Vice President-elect Kamala Harris, speaks at The Queen theater, Monday, Nov. 9, 2020, in Wilmington, Del. (AP Photo/Carolyn Kaster)

“All of these leadership positions play a critical role in the development of economic policy in an administration and the execution of goals, strategies, and practices that impact all Americans,” the group wrote in a letter to Biden on Wednesday. “Unless you are intentional about leveraging inclusion as a strategy to navigate the intersecting dynamics of race, economy, inequality and power, we will not address these issues with the best minds possible.”

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The letter points out that in order for the president-elect to fulfill his promise to form a government that mirrors the U.S. population, he and his team will need to navigate a delicate path while conducting a thorough search.

Additionally, the Washington Government Relations Group, a trade association of African American lobbyists, also made a request. Last week, the group sent a letter to leaders of the Congressional Black Caucus asking for their help in pushing back against calls from some Democrats to bar registered lobbyists from the Biden administration.

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In the letter, signed by the heads of several African American financial groups, the leaders pointed out that there has never been a Black leader of the Federal Reserve, the SEC, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency or the White House Council of Economic Advisers.

Crain’s New York Business reported that people familiar with the matter have said that Biden’s transition team is considering Black nominees for several economic jobs.

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The post Black finance professionals push for top posts in Biden administration appeared first on TheGrio.

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