The recent confirmation of three people of color to the Federal Reserve Board of Governors has drawn the praise of one of the country’s leading think tanks specializing in issues regarding minorities.
The Joint Center for Political and Economic Studies in Northwest congratulated Dr. Philip Nathan Jefferson as vice chairman of the board of governors, Dr. Lisa DeNell Cooks as a full-term member of the board and Dr. Adriana Debora Kugler as a board member. Jefferson and Cook are Black and Kugler is Latina. This is the first time in history that the seven-member Federal Reserve Board of Governors has two African Americans and one Latina governor, and the second time there has been a Black vice chairman.
“With the confirmation of these three historic nominees, the Federal Reserve Board of Governors will be even better equipped to provide insights into formulating monetary policies that better address the needs of the diverse communities that make up our economy,” said Jessica Fulton, interim president of the Joint Center and vice president, policy. “Dr. Cook, Dr. Jefferson, and Dr. Kugler each bring extensive economic policy experience and deep macroeconomic and labor market expertise, which collectively positions the Fed to better shape economic policy to advance the needs of our racially diverse nation. Their insight and experience will provide much-needed perspectives to support all communities.”
