Former Philadelphia Mayor To Head U.S. Treasury Department’s New Advisory Committee On Racial Equity

Former Philadelphia Mayor Michael Nutter has been selected to oversee first-ever advisory committee on racial equity at the U.S. Treasury Department.

Nutter is a professor of urban and public affairs at Columbia University,  His new Treasury role calls for him to chair the 25-person inaugural committee. He was Philadelphia’s mayor from 2008 to 2015 He will work with Felicia Wong, president and CEO of the Roosevelt Institute,  the committee’s vice-chair.

The newly created committee will offer advice and recommendations to Secretary Janet Yellen and Deputy Secretary Wally Adeyemo on efforts to advance racial equity in the economy and address acute disparities for communities of color, based on a news release.

As such, “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.”

Financial inclusion, access to capital, housing stability, federal supplier diversity, and economic development will be among the topics it will address. It also will examine ways to reduce obstacles that would allow communities of color to take part more fully in the nation’s economy.

A powerful player in the world economy, the Treasury’s work showcases its position as the administrator of the U.S. economic and financial systems.

The committee is a product of the Treasury’s department-wide equity assessment last year, per the news release. It established a goal of creating an institutionalized way to collect insights and recommendations on racial equity efforts.

Other members reportedly include David Clunie, executive director of the Black Economic Alliance; Nicole Borromeo, executive vice president and general council of the Alaska Federation of Natives; Michael Miebach, CEO of Mastercard; and Barika Williams, executive director of The Association for Neighborhood Housing and Development.

Treasury Secretary Janet Yellen stated, “A critical piece of executing on our racial equity goals is bringing a wide set of outside perspectives and lived experiences to the decision-making table.  The Treasury Advisory Committee on Racial Equity, made up of members with wide-ranging backgrounds and expertise, will provide important insight and advice to leadership across the department to bolster and inform our equity efforts.”

Nutter reflected among his comments, “I am deeply honored to have been asked to serve, and provide leadership, for this inaugural effort.”

He added, “The creation of this Committee is a shining example and testament to the commitment of Secretary Yellen, Deputy Secretary Adeyemo, Counselor Bowdler, and so many others in the Treasury Department who are focused on the task at hand – how do we find, focus and factor into programs and policies the issue of racial equity.”