Fed Board Stronger with Senate Confirmation of Dr. Lisa Cook

FOR IMMEDIATE RELEASE:
May 11, 2022

CONTACT:
Victoria Johnson, victoria@jointcenter.org, 202-789-3500

In response to Dr. Lisa Cook’s confirmation to the Federal Reserve Board, the Joint Center releases the following statement:

The Joint Center for Political and Economic Studies celebrates the Senate’s confirmation of Dr. Lisa Cook to the Federal Reserve Board of Governors. Dr. Cook is the first Black woman confirmed to the Board in its 108-year history. The Joint Center has continuously supported Dr. Cook throughout the nomination process.

“Dr. Lisa Cook is an incredibly important and long overdue addition to the Federal Reserve Board. Dr. Cook’s rigorous and groundbreaking macroeconomic research underscores her steadfast commitment to a better economy for all. Her thoughtfulness and deep expertise will allow her to contribute a unique perspective to the Fed that facilitates equity and maximizes widespread economic growth. Black communities are among those most adversely affected by inflation, and the Senate’s confirmation of Dr. Cook equips the Fed to more effectively develop and implement policies that expedite a post-pandemic economic recovery,” said Spencer Overton, president of the Joint Center. “We applaud the Senate Banking Committee and Chairman Sen. Sherrod Brown (D-OH) for his leadership throughout the nomination and confirmation process. We are also thankful to Senate Majority Leader Charles Schumer (D-NY) for his leadership during the confirmation process.”

The Joint Center continues to urge the Senate to confirm Dr. Philip Jefferson to the Federal Reserve Board of Governors. Dr. Jefferson, chief academic officer at Davidson College in North Carolina, was nominated by President Biden with Dr. Cook.

About Dr. Lisa Cook: Dr. Lisa Cook is one of the country’s most esteemed macroeconomists as well as an international authority on banking systems, economic growth, innovation, markets, and global finance. Among her many accomplishments, Dr. Cook is a tenured professor at Michigan State University and serves on the Board of Directors of the Federal Home Loan Bank of Indianapolis and the Board of the Federal Reserve Bank of Chicago. Dr. Cook’s outstanding experience in banking and finance and economic and policy circles would help close the gap between Main Street and Wall Street, ensuring the country’s financial system delivers for all stakeholders. She has also been a supporter of the Joint Center’s work. Dr. Cook talked about economic policy at the Joint Center’s Future of Black Communities Leadership Summit in December 2020.

About the Joint Center for Political and Economic Studies: The Joint Center for Political and Economic Studies, America’s Black think tank, provides compelling and actionable policy solutions to eradicate persistent and evolving barriers to the full freedom of Black people in America. We are the trusted forum for leading experts and scholars to participate in major public policy debates and promote ideas that advance Black communities. We use evidence-based research, analysis, convenings, and strategic communications to support Black communities and a network of allies.

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