Economist Lisa Cook Slated To Become First Black Woman To Serve on Federal Reserve Board

She is marking a new era of economic justice!

Economist Lisa Cook is slated to become the first Black woman to serve on the Federal Reserve Board, The Hill reports.

Cook is a Michigan State University economics professor who studied economics and politics at Oxford University. She received her bachelor’s as a Marshall Scholar before obtaining her Ph.D. in economics from the University of California at Berkeley. She formerly served as a senior economist with the Council of Economic Advisers during the Obama administration and currently serves on the steering committee of the Washington Center for Equitable Growth. Now, Cook is being tapped to serve on the Federal Reserve’s Board of Governors, which would make her the first Black woman ever to hold the position. 

The Biden administration rescinded Trump’s nomination of campaign adviser Judy Shelton to serve on the board earlier this month. Cook is a decorated economist and has received support from inside the Biden administration. If chosen, she would join the seven-member Federal Reserve Board, ushering in a new era of diversity. Rep. Ayanna Pressley, who made history as the first Black woman to be elected to Congress from Massachusetts, tweeted her support for Cook.

“Incredible news…This is a victory for the people, & the most marginalized to truly be centered. Econ policy with a racial justice lens,” Pressley said. 

Dr. Cook has not yet been chosen formally, but the vacant spot on the board is expected to be filled soon.

Congratulations, Dr. Cook!

UPDATE: The Senate confirmed Lisa Cook as the first Black woman to serve on the Federal Reserve Board on May 10, 2022. 

Photo Courtesy of Federal Reserve Bank of St. Louis/Lisa Cook