US Senate Appoints First Black Woman, Lisa Cook To Serve On Federal Reserve Board
The US Senate on Tuesday confirmed Lisa Cook to serve on the Federal Reserve’s board of governors, making her the first black woman to hold the position in the central bank’s 109-year history.
All 50 Democrats in the upper chamber of Congress voted in favour of Cook, a professor of economics at Michigan State University.
Vice-president Kamala Harris cast the tiebreaking vote after Republicans voted unanimously against her appointment.
Cook, who formerly worked as a staff economist on the White House Council of Economic Advisers during the administration of former president Barack Obama, will serve a two-year term expiring January 2024.
“She will bring an invaluable perspective while implementing the Federal Reserve’s dual mandate and protecting its independence,” said Sherrod Brown, Democratic chair of the powerful Senate banking committee that oversaw the nomination process.
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