Senate Advances Fed Nominee Lisa Cook to Final Confirmation Vote
Lisa Cook
Photo:
KEN CEDENO/Press Pool
The Senate moved closer Tuesday to confirming one of President Biden’s nominees to the Federal Reserve.
Lawmakers voted 50-49 in favor of ending debate on the nomination of Lisa Cook, an economist and professor of international relations at Michigan State University. The vote could allow them to proceed later Tuesday to confirm her to the central bank’s seven-member board of governors.
Ms. Cook would be the first Black woman to serve on the Fed’s board in its history. She previously served as an economist on the staff of the Council of Economic Advisers during the Obama administration. Her research has focused on policies that promote broad economic opportunity, particularly for racial minorities and women.
Absences of elected officials related to Covid-19 cases delayed her confirmation two weeks ago because no Republicans supported Ms. Cook and two Democrats were unable to vote. On Tuesday, she received backing from all 50 senators who caucus with Democrats, while 49 Republicans opposed her confirmation; one Republican didn’t vote.
Some Republicans suggested at Ms. Cook’s February confirmation hearing that she lacked sufficient experience in macroeconomics and monetary policy, a claim she countered by highlighting her research experience and work at the Treasury Department and White House. Ms. Cook would fill a term that runs through January 2024.
Ms. Cook’s confirmation to fill one of three vacancies on the Fed’s board could lead Democratic leaders in the Senate to bring up two other Fed nominations later this week, including Fed Chairman
Jerome Powell,
who has been serving in an acting capacity since his four-year term expired in February and whom Mr. Biden has tapped for a second term.
Lawmakers are also likely to confirm
Philip Jefferson
as a governor. Not including Ms. Cook, he would be the fourth Black governor and the first since 2006.
Write to Nick Timiraos at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Lisa Cook
Photo:
KEN CEDENO/Press Pool
The Senate moved closer Tuesday to confirming one of President Biden’s nominees to the Federal Reserve.
Lawmakers voted 50-49 in favor of ending debate on the nomination of Lisa Cook, an economist and professor of international relations at Michigan State University. The vote could allow them to proceed later Tuesday to confirm her to the central bank’s seven-member board of governors.
Ms. Cook would be the first Black woman to serve on the Fed’s board in its history. She previously served as an economist on the staff of the Council of Economic Advisers during the Obama administration. Her research has focused on policies that promote broad economic opportunity, particularly for racial minorities and women.
Absences of elected officials related to Covid-19 cases delayed her confirmation two weeks ago because no Republicans supported Ms. Cook and two Democrats were unable to vote. On Tuesday, she received backing from all 50 senators who caucus with Democrats, while 49 Republicans opposed her confirmation; one Republican didn’t vote.
Some Republicans suggested at Ms. Cook’s February confirmation hearing that she lacked sufficient experience in macroeconomics and monetary policy, a claim she countered by highlighting her research experience and work at the Treasury Department and White House. Ms. Cook would fill a term that runs through January 2024.
Ms. Cook’s confirmation to fill one of three vacancies on the Fed’s board could lead Democratic leaders in the Senate to bring up two other Fed nominations later this week, including Fed Chairman
Jerome Powell,
who has been serving in an acting capacity since his four-year term expired in February and whom Mr. Biden has tapped for a second term.
Lawmakers are also likely to confirm
Philip Jefferson
as a governor. Not including Ms. Cook, he would be the fourth Black governor and the first since 2006.
Write to Nick Timiraos at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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