Economist is first black woman to serve on US central bank’s board of governors
The United States Senate approved, on Tuesday (May 11, 2022), the appointment of economist Lisa Cook to serve on the Federal Reserve Board of Governors. Cook is the first black woman to hold the position.
The vote was tight: 51 votes in favor and 50 against. Minerva’s vote went to Vice President Kamala Harris.
In the opinion of Republican senators, Cook does not have enough experience with interest rate policy and is therefore not qualified for the position.
Also for these congressmen, the economist’s testimony to the Senate Banking Committee suggested that she was not sufficiently committed to fighting inflation, which registered a record in March.
The approval of Cook’s name paves the way for Jerome Powell’s reappointment as Fed chairman. It was approved by the Senate Banking Committee in March and is awaiting plenary approval.
WHO IS LISA COOK
A PhD in economics from the University of California, Berkeley, Cook has been a professor of economics and international relations at Michigan State University since 2005.
Speaks 5 languages, including Russian. He is also an expert in international development economics and has worked on Rwanda’s recovery after the 1994 genocide.
She was an economist on the White House Council of Economic Advisers from 2011 to 2012 and an advisor to President Joe Biden’s transition team on Fed and bank regulatory policy.
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