The Federal Reserve System is planning to make changes to its record-keeping system related to its employees. These changes will update how they manage personal records, including details about past and present employees, job applicants, and beneficiaries. The updates will broaden the types of individuals covered and modernize the kinds of information kept, such as personal pronouns and prior military service. These changes aim to enhance the Board's management and decision-making processes related to its personnel and benefits.
Simple Explanation
The Federal Reserve wants to change how it keeps track of information about its workers by adding more details, like personal pronouns and military service, to do a better job managing and deciding on benefits for them.