Michigan State University economist Lisa Cook has been confirmed by the U.S. Senate to serve a 14-year term on the Federal Reserve Board of Governors.
Back in 2022, Cook became the first Black woman to serve on the on board in its 108-year history.
Her additional term on the board was confirmed by a 52-47 vote on September 6, reports Bloomberg.
President Joe Biden nominated Cook to fill a partial term that was set to end on January 31, 2024. President Biden then nominated her for an additional term on May 12, 2023.
With her term now extended by the Senate, she can serve on the board through the end of January 2038.
“Dr. Cook’s time on the Board has proven she provides invaluable insight as our economy rebuilds and we grow the middle class. I’m so proud to see one of Michigan’s best at the Federal Reserve — I know she’ll continue to do an amazing job,” U.S. Senator Debbie Stabenow said in a statement.
Cook was a professor of economics and international relations at Michigan State University from 2005 to 2002. She served as a senior Treasury Department adviser to former President Barack Obama. She also served on President Obama’s Council of Economic Advisors from 2011 to 2012.
Cook graduated from Spelman College with a bachelor’s degree in physics and philosophy. She went on become Spelman College’s first Marshall Scholar, receiving a second bachelor’s in philosophy, politics, and economics from Oxford University. She earned a Ph.D. in economics from the University of California, Berkeley — with her fields of study being macroeconomics and international economics.
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