First time in US history: Black woman on Federal Reserve Board

Washington : The US Senate has confirmed economist Lisa Cook to serve on the Federal Reserve’s board of governors. She has become the first black woman to do so in the organization’s 108-year history. Voting took place on Tuesday in which the vote of the Vice President was decisive. After Kamala Harris’s vote, 51 votes […]
 


First time in US history: Black woman on Federal Reserve Board

Washington : The US Senate has confirmed economist Lisa Cook to serve on the Federal Reserve’s board of governors. She has become the first black woman to do so in the organization’s 108-year history. Voting took place on Tuesday in which the vote of the Vice President was decisive. After Kamala Harris’s vote, 51 votes against 50 came in Lisa’s favour.

Senate Republicans argued that he was unfit for the position, saying he did not have enough interest rate policy experience. She also said that her testimony before the Senate Banking Committee suggested she was not committed enough to fight inflation, which is running at a four-decade high. Cook holds a doctorate in economics from the University of California, Berkeley. She has been Professor of Economics and International Relations at Michigan State since 2005.

She was also on the White House Council of Economic Advisors from 2011 to 2012. Some of his best-known research has focused on the impact of lynching and racial violence on African-American innovation. Cook is the second of five Biden nominees to win Senate confirmation for the Fed.