Former Philadelphia Mayor Michael Nutter has been tapped to chair a new committee from the U.S. Department of Treasury focused on efforts to advance racial equity in the economy and address acute disparities for communities of color, the Philadelphia Business Journal reports.
The 25-member Treasury Advisory Committee on Racial Equity will provide advice and recommendations to Secretary Janet Yellen and Deputy Secretary Wally Adeyemo. It will identify, monitor, and review aspects of the domestic economy that have directly and indirectly resulted in unfavorable conditions for communities of color. It plans to address topics including but not limited to: financial inclusion, access to capital, housing stability, federal supplier diversity, and economic development.
The inaugural members of the committee come from a wide range of backgrounds including academia, advocacy, financial services, and local government. But Treasury says the 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.
Nutter served as mayor of Philadelphia from 2007 to 2015 and is now a professor in urban and public affairs at Columbia University. Last year, he formed a public affairs firm called 40 North Advocacy with two former colleagues that worked with him on Michael Bloomberg’s presidential campaign.