Recent Findings from Johns Hopkins University Provides New Insights into Investment (Black Representation and the Popular Legitimacy of the Federal Reserve): Investment

2024 DEC 04 (NewsRx) -- By a News Reporter-Staff News Editor at Economics Daily Report -- A new study on Investment is now available. According to news reporting out of Baltimore, Maryland, by NewsRx editors, research stated, “The Federal Reserve has started paying closer attention to matters of race over the last decade. The central bank has increasingly emphasized the distinct economic challenges facing racial minorities, and its leadership has become more racially diverse.”

Our news journalists obtained a quote from the research from Johns Hopkins University, “This paper applies theories of descriptive and substantive representation to understand how these shifts are likely to impact the popular legitimacy of the Federal Reserve. We hypothesize that greater Black descriptive and substantive representation improves Black Americans’ confidence in the Federal Reserve. We also anticipate that political ideology moderates how white Americans respond to the increases in Black representation within the Federal Reserve, with white conservatives responding less favorably to these changes than more left-leaning whites. Analysis of data from two original survey experiments with separate samples of 3000 Americans, split evenly between Black and white respondents, supports our expectations. Information about substantive and descriptive representation at the Fed has a strong impact on Black Americans’ perceptions of the institution.”

According to the news editors, the research concluded: “We also find that these changes at the Fed boost white liberals’ views of the Fed but have little impact on white conservatives’ attitudes about the central bank.”

This research has been peer-reviewed.

For more information on this research see: Black Representation and the Popular Legitimacy of the Federal Reserve. European Journal of Political Economy, 2024;85. European Journal of Political Economy can be contacted at: Elsevier Science Inc, Ste 800, 230 Park Ave, New York, NY 10169, USA. (Elsevier - www.elsevier.com; European Journal of Political Economy - http://www.journals.elsevier.com/european-journal-of-political-economy/)

Our news journalists report that additional information may be obtained by contacting David A. Steinberg, Johns Hopkins University, Sais, Baltimore, MD 21218, United States.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.ejpoleco.2024.102583. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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