May 10, 2022 - Politics & Policy

Lisa Cook confirmed as first Black woman on Federal Reserve Board

Lisa Cook. Photo: Ken Cedena-Pool/AFP via Getty Images

The Senate voted 51-50 on Tuesday, with Vice President Harris casting the tie-breaker, confirming Lisa Cook to serve on the Federal Reserve’s Board of Governors.

The big picture: Cook, a professor of economics and international relations at Michigan State, is the first Black woman on the panel in its 108-year history.

  • Democrats had delayed the vote due to several absences in the upper chamber since they hold a narrow majority and no Republicans supported Cook's confirmation.
  • Cook worked in the Obama administration's Council of Economic Advisers and had done extensive research on the economic consequences of racial discrimination.

Flashback: Cook’s academic writing suggests she is a dove, meaning she’s less concerned about inflation and more focused on improving labor market conditions, Axios' Hans Nichols writes.

  • Some conservative economists argued that Cook is under-qualified to be a Fed governor because her academic research is mostly not focused on monetary economics.
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