Apr 3, 2018

New York Fed taps new president, triggers diversity concerns

John C. Williams, incoming president and CEO of the Federal Reserve Bank of New York. Photo: Rob Kim / Getty Images

The Federal Reserve Bank of New York on Tuesday named John C. Williams as its next president and CEO. Williams is a Wall Street insider who has been serving as the head of the Federal Reserve Bank of San Francisco since 2011. The selection of Williams comes amid calls from Democrats and progressive groups who want more gender and racial diversity in the Fed’s top leadership.

What they're saying: Ohio Senator Sherrod Brown called Williams "a distinguished and respected economist," but argue that Federal Reserve System officials failed to show that "diversity is important." On the other hand, Sara Horowitz, chair of the New York Fed’s Board of Directors and co-chair of the search committee, said "a thorough process" was done and concluded that Williams "best fulfilled the criteria we’d identified as well as the feedback we’d received through our public outreach efforts.”

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Coronavirus stress tests drug industry's dependence on China

A Hong Kong commuter wears a face mask. Photo: Miguel Candela/SOPA Images/LightRocket via Getty Images

It's unclear whether the rapid spread of the novel coronavirus will actually result in prescription drug shortages, but it has undoubtedly highlighted the potential vulnerabilities of having the supply chain for American drugs so dependent on China.

Driving the news: About 150 prescription drugs — including antibiotics, generics and some branded drugs without alternatives — are at risk of shortage if the coronavirus outbreak in China worsens, per two sources familiar with a list of at-risk drugs compiled by the Food and Drug Administration.

Go deeperArrow57 mins ago - Health

Bernie's path to the presidency

Sen. Bernie Sanders speaks yesterday during a rally at Houston University. Photo: Mark Felix/AFP via Getty Images

Lots of Democrats are in full panic that Bernie Sanders will win the nomination and get clobbered in the general election — and bring the party down, too. But the evidence, particularly the polling, doesn't back those doomsday warnings.

Why it matters: Virtually every national and swing state poll shows Sanders tied with or beating President Trump.  And, unlike every rival, he has a huge base of fervent, unshakable supporters he can only grow.

These swing voters don't like Trump’s environmental rollbacks

Illustration: Sarah Grillo/Axios

Swing voters in four battleground states decisively oppose President Trump’s sweeping rollbacks of environmental regulations — but it’s unlikely to sway their votes.

Why it matters: It’s voters living in states like these, including Florida and Pennsylvania, who fill pivotal roles electing America’s presidents, so we should listen.