“I’m sure she’s excellent and well-qualified,” MacCallum responded. “How does the fact that it’s a diversity pick mean that the economy is going to improve? Why is that relevant?”
“Totally fair question. The reason it’s relevant — remember, these are people that are pulling some of the most influential levers in the economy. Now, any time you’re doing that, you have to ask yourself on whose behalf are you pulling those levers? If you’re simply focused on the top reaches of the corporate sector, if you’re simply focused on the stock market and you’re not paying enough attention to communities that have been left behind in this economy, then I would argue that you have a Federal Reserve that is not as representative as it needs to be. That’s what President Biden —” Bernstein said before MacCallum cut him off.
“People would argue that it doesn’t matter what color you are to care about communities at the upper and lower reaches of the economy —” MacCallum said before Bernstein jumped in.
“President Biden would explain to you that it’s extremely important to have a Federal Reserve that looks like all of America.”
“If she’s the most qualified, 100%. Regardless of her skin color either way,” MacCallum said before the pair shifted to other topics.