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Fed's Bowman says diversity helps central bank policy

FILE PHOTO: U.S. Federal Reserve Governor Michelle Bowman poses at a conference on monetary policy at The Hoover Institution in Palo Alto, California, U.S., May 3, 2019. REUTES/Ann Saphir

(Reuters) - Federal Reserve Governor Michelle Bowman on Wednesday said her experiences as a community banker and state regulator -- an atypical background for a U.S. monetary policymaker -- improves decisions by the central bank by bringing in a broader perspective.

“This diversity is a strength,” Bowman said in remarks prepared for delivery to the Outstanding Women of Kansas Awards Ceremony. She was one of four women to receive the award this year. “I strongly believe that our economic and financial system is strengthened when we consider the implications of our regulatory decisions for bankers on Main Street as well as on Wall Street.”

Her perspective, also informed by her rural roots, contributes as well to monetary policy decisions, she said.

“Our actions in response to the recent pandemic have clearly benefited from this perspective, as we understand how the varying state and local approaches have affected economic conditions across the nation,” she said.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

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