Black Business

Jamaican Immigrant Susan M. Collins Becomes First Black Woman to Lead a Federal Reserve Bank

Economist Susan M. Collins has become the first Black woman to lead one of the 12 regional Federal Reserve banks since the central bank system was created in 1914.

She was appointed the next president of the Federal Reserve Bank of Boston on Feb. 9 and will start in her new role in July. Collins has been provost and executive vice president for academic affairs at the University of Michigan since 2020.

(Photo from University of Michigan)

A Harvard- and MIT-trained economist with extensive experience in government and academia, Collins, 63, is only the second woman to helm the Boston Fed. Cathy Minehan was president from 1994 through 2007.

Collins will also be on the central bank’s powerful Federal Open Market Committee, whose mandate is to promote full employment and stable consumer prices.

Collins, whose parents immigrated from Jamaica, became a U.S. citizen in 1997. 

In a recent interview, Collins indicated she would focus on both traditional Fed concerns, such as the labor market, and the kind of community-oriented initiatives the central bank has focused on in recent years. 

“I’ll note that a common theme throughout my career has been commitment to the mission of public service to improve lives — whether through education, research, or policy,” she said.

Read full story at Finurah here.

More news from our partners:

One Black Family Claims California Took Their Land for a State Park 75 Years Ago. Now They Want it Back.

A Texas Telecom Company Allegedly Isolated Black Employees Into a Separate Room with Cameras, Now Ten Former Employees Have Won a $70 Million Federal Discrimination Suit

“Thank You For Casting Light On A Sick Soul” | Rangers Pitcher Mike Foltynewicz’s Wife Alleges Abuse And More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button