WASHINGTON (AP) — The Senate confirmed economist Lisa Cook on Tuesday to serve on the Federal Reserve’s board of governors, making her the first Black woman to do so in the institution&…
WASHINGTON — The Senate confirmed economist Lisa Cook on Tuesday to serve on the Federal Reserve’s board of governors, making her the first Black woman to do so in the institution’s 108-year history.
Cook has a doctorate in economics from the University of California, Berkeley, and has been a professor of economics and international relations at Michigan State since 2005. She was also a staff economist on the White House Council of Economic Advisers from 2011 to 2012 and was an adviser to President Joe Biden’s transition team on the Fed and bank regulatory policy.
Some critics charge, however, that the Fed has contributed to the increased scrutiny by addressing a broader range of issues in recent years, such as the role of climate change on financial stability and racial disparities in employment. Fed Chair Jerome Powell is currently serving in a temporary capacity after his term ended in February. He was approved by the Senate Banking Committee by a nearly unanimous vote in March.
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