Colombian Adriana Kugler takes office as governor of the Fed in the United States

The Federal Reserve reported this Wednesday that Colombian-American Adriana Kugler was sworn in as governor. The inauguration was led by Fed Chairman Jerome Powell, who took the oaths at the headquarters of the US central bank in Washington..

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At the same event this Wednesday, Philip Jefferson was sworn in as vice president of the Fed and Lisa Cook, also as governor.

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Under Kugler, the Fed board will have a full slate of seven members heading into its policy meeting next week.

Jefferson, the fourth African-American governor, will be the second vice president after Roger Ferguson. He was confirmed in an 88-10 vote last week. And Cook, whom President Joe Biden appointed council governor last year and whose current term expires in January, was confirmed for a full term in a 51-47 vote the same day.

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The Senate confirmed Kugler to the board in a 53-45 vote last Thursday, making her the first woman and first person of Latino origin to head the central bank.

So culminated a Biden administration diversity push at one of the world’s most powerful economic institutions.

Kugler’s appointment comes after years of pressure from Democratic Senator Bob Menendez for President Joe Biden to appoint a Hispanic member to the council.

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The New Jersey Democrat has pointed to the contributions Hispanics have made to the economy and argued that they deserved a seat at the table where key decisions are made.

The U.S. central bank is expected to hold interest rates on hold at its meeting next week, although investors are divided over whether it will raise rates later in the year.

Kugler’s career is extensive. He was chief economist at the U.S. Department of Labor during the administration of former President Barack Obama. She served on the technical advisory committee of the Bureau of Labor Statistics and as executive director of the United States at the World Bank Group. This added to an important career in highly prestigious educational institutions in the United States, such as Georgetown University.

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Kugler, a 53-year-old economist, was born in the United States, although he returned to Colombia when he was only two years old. and he remained in our country until he was 15 years old and traveled back to United States territory.

She was nominated by President Joe Biden to be governor of the Federal Reserve (Fed) – the US central bank. The American president described her as a highly qualified and experienced professional.

INTERNATIONAL EDITORIAL
TIME