Department of Economics

Prof. John Friedman Announced as Inaugural Member of the Treasury Advisory Committee on Racial Equity

The Treasury Department Announces Inaugural Members of Formal Advisory Committee on Racial Equity: A 25-member committee will advise Secretary, Deputy Secretary on efforts to advance racial equity.

In conjunction with today’s annual Freedman’s Bank Forum, U.S. Secretary of the Treasury Janet L. Yellen announced the inaugural members of the Treasury Advisory Committee on Racial Equity. The first-of-its-kind committee will provide advice and recommendations to Secretary Yellen and Deputy Secretary Wally Adeyemo on efforts to advance racial equity in the economy and address acute disparities for communities of color.  

Toward that end, the Committee will identify, monitor, and review aspects of the domestic economy that have directly and indirectly resulted in unfavorable conditions for communities of color. The Committee plans to address topics including but not limited to: financial inclusion, access to capital, housing stability, federal supplier diversity, and economic development. 

The 25 inaugural members of the Committee come from a wide range of backgrounds including academia, advocacy, financial services, and local government.  Members share a common experience with and working knowledge of the implications of economic policy decisions on communities of color, as well as a deep commitment to advancing racial equity. 

Michael Nutter, the David N. Dinkins Professor of Professional Practice in Urban and Public Affairs at Columbia University and the former Mayor of Philadelphia, will serve as chair of the Committee and Felicia Wong, the President and CEO of the Roosevelt Institute, will serve as vice-chair.

Members will serve a two-year term and will work alongside Treasury’s Counselor for Racial Equity, Janis Bowdler. The Committee’s charter is established under agency authority and in accordance with the Federal Advisory Committee Act (FACA).  

The Committee is a product of Treasury’s department-wide equity assessment last year, in which the team identified a goal of creating an institutionalized way to gather on-the-ground insights and recommendations on racial equity efforts. 

US Department of the Treasury Press Release 

Inaugural Treasury Advisory Committee on Racial Equity Members: 

John Friedman, PDBF Distinguished Professor of Economics and International and Public Affairs, Brown University 

Michael Nutter, David N. Dinkins Professor of Professional Practice in Urban and Public Affairs, Columbia University and former Mayor of Philadelphia (Chair) 

Felicia Wong, President and Chief Executive Officer, The Roosevelt Institute, Roosevelt Forward (Vice-Chair)

Nicole Anand, Deputy Director, Inclusive Action for the City 

Janie Barrera, President and CEO, LiftFund, Inc.   

Nicole Borromeo, Executive Vice President & General Counsel, Alaska Federation of Natives 

Dorothy Brown, Professor of Law, Georgetown University 

William (Bill) Bynum, Chief Executive Officer, Hope Enterprise Corporation, Hope Federal Credit Union, Hope Policy Institute 

David Clunie, Executive Director, Black Economic Alliance 

Gary Cunningham, President & CEO of Prosperity Now 

Nicole Elam, President and Chief Executive Officer, National Bankers Association (NBA) 

Gilbert Garcia, Managing Partner, Portfolio Manager, Garcia Hamilton & Associates, L.P.     

Bulbul Gupta, President & CEO, Pacific Community Ventures 

Darrick Hamilton, University Professor and Henry Cohen Professor of Economics and Urban Policy, The New School 

Michael McAfee, President and CEO, PolicyLink 

Michael Miebach, CEO, Mastercard 

Gina Nisbeth, Founder and President, 9th & Clinton Advisory 

Lorella Praeli, Co-President, Community Change & Community Change Action 

José Quiñonez, Founding CEO, Mission Asset Fund 

Carlos Rangel, Chief Investment Officer, W.K. Kellogg Foundation (WKKF) 

Valerie Red-Horse Mohl, Co-Founder, Known Holdings & CFO, East Bay Community Foundation

Amanda Renteria, Chief Executive Officer, Code for America 

John Rogers, Founder, Chairman & Co-CEO, Ariel Investments 

Chiling Tong, President and Chief Executive Officer, National Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship (National ACE) 

Barika Williams, Executive Director, The Association for Neighborhood Housing & Development (ANHD)