US prints new banknotes with two signatures
2022.12.08 06:52
US prints new banknotes with two signatures
Budrigannews.com – When she presides over Thursday’s unveiling of the first U.S. banknotes printed with two women’s signatures, U.S. Treasury Secretary Janet Yellen will pay tribute to other pioneers and call for “much more” work to advance equity for women and minorities.
The new banknotes being produced at the Treasury’s Bureau of Engraving and Printing site in Fort Worth, Texas, according to Yellen, the first woman to head the Treasury and chair the U.S. Federal Reserve, are a reminder of the contributions made by women who have worked at the Treasury and in the field of economics.
The first Native American to hold that position, U.S. Treasury Chief Lynn Malerba will join her at the site.
The first banknotes with the signatures of a Native American woman and a female Treasury chief will be delivered to the Federal Reserve next year for circulation.
“We have made progress in increasing economic opportunity for women in the economics field and at Treasury. However, we are aware that much more work is required,” Yellen stated in prepared remarks for the event. I hope that today will serve as a reminder of our progress toward equity and inclusion. And I hope it inspires us to keep moving forward.”
During the Civil War, Treasury led the first major effort to hire women into the federal government. Yellen cited Jennie Douglas as the first woman and Sophia Holmes as the first Black woman hired.
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According to her, it wasn’t until the 1930s that Josephine Roche was chosen to be the first woman to be an assistant Treasury secretary. However, today, women make up 62% of Treasury’s workforce.
In the early 1970s, Yellen claimed to be the only woman in her doctoral program at Yale. However, academic data indicate that women still hold only 30% of economics professorships and 34% of PhDs.
Reuters reported that the introduction of the new banknotes marked a significant milestone for Cecilia Rouse, the first Black woman to lead the Council of Economic Advisers.
She stated, “It symbolizes that we are finally getting the insight from important parts of our economy and society.”
