By Megan Sayles
AFRO Business Writer
msayles@afro.com
The Federal Reserve System Board of Governors recently elected Coppin State University (CSU) President Anthony L. Jenkins, Ph.D., to the board of directors of the Baltimore branch for the Federal Reserve Bank of Richmond. The bank serves Maryland, North Carolina, South Carolina, Virginia, West Virginia and Washington D.C.
Beginning this March, Jenkins will serve a three-year term. He is the first Maryland university president to be appointed to the board.
“It’s critical for monetary policymakers to understand the communities we serve, and Coppin State University is a vital institution in Baltimore,” said Jessie Romero, assistant vice president and corporate secretary for the Federal Reserve Bank of Richmond. “We’re very excited about the insights and connections Dr. Jenkins will be able to bring from the people who live and work here.”
Jenkins said the position was not something he sought. Instead, the board reached out to gauge his interest in the role. He thought it would be a unique opportunity not only for him, but for CSU.
Jenkins said the appointment speaks volumes about the reputation of the West Baltimore anchor institution.
“I think the Fed really acknowledges how Coppin is a leader in urban higher education and appreciates what we can bring as far as insight and value as an anchor institution,” said Jenkins. “I think they also acknowledge that in order for Maryland to be strong, Baltimore has to be strong. Coppin, as the hometown university, really has its thumb on the pulse of what’s going on in Baltimore.”
Jenkins became president of CSU in 2020. When Jenkins arrived on campus, CSU’s retention rate was about 57 percent compared to 74 percent today. Enrollment increased 5 percent last fall, with students hailing from 37 states and 31 countries. Last year, the university invested more than $14.1 million in research, up from $1.5 million in 2019. It also raised $6 million, up from $1.2 million in 2019.
“We did that with the backdrop of a global pandemic. You can’t underscore how much we moved this university in a short period of time during a global pandemic,” said Jenkins. “Imagine what we’re going to continue to do now that that’s behind us.”
Since assuming his board position, Jenkins said his perspective on the U.S. economy has shifted. Instead of thinking about the economy from a consumer perspective, he’s considering its sustainability and its impact on the rest of the world.
“This board is really responsible for creating a healthy and more sustainable economy for this nation, understanding that what we do has a trickle effect on the rest of the world,” said Jenkins. “For me, it’s about bringing insight, information and expertise of what’s happening in Baltimore to strengthen the economy, policies and regulations and to put families in a much better place.”
Megan Sayles is a Report for America corps member.
