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Sen. Pat Toomey (Pa.), the Senate Banking Committee’s top Republican, sent letters to three of the Federal Reserve’s regional banks complaining about their “obsession with race,” which he said was part of a “highly politicized social agenda unrelated to monetary policy.” “It is not the proper role of the Federal Reserve to be engaging in political advocacy,” he wrote in separate letters to the chairs of Boston, Atlanta, and Minneapolis’s Federal Reserve banks.

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