The First Black Female Federal Reserve Board Member in the U.S.

Lisa Cook Passes Senate Confirmation

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] The first Black woman to become a Federal Reserve (Fed) board member in the United States has been appointed.

The Wall Street Journal (WSJ) reported on the 10th (local time) that the U.S. Senate passed the confirmation of Lisa Cook, a Fed board nominee, with 51 votes in favor and 50 against.

With this, Cook becomes the first Black woman to join the Federal Reserve Board. She is the second Fed senior official nominated by President Joe Biden to be confirmed by the Senate, following Vice Chair Lael Brainard.

Cook's term will last until January 2024. A former professor at Michigan State University, she participated in the White House Council of Economic Advisers (CEA) during the Obama administration and also in President Biden's transition team.

WSJ evaluated that "with Cook's nomination, President Biden can fulfill his promise to improve diversity among senior Fed officials."

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