The Senate confirmed on a bipartisan basis the nomination of Philip Jefferson for vice chair of the Federal Reserve System’s Board of Governors, where he has been serving as member since May 2022.
In addition to Jefferson, President Joe Biden welcomed the confirmation of Lisa Cook and Adriana Kugler to serve as Federal Reserve Board members.
Jefferson, as fed governor, was filling an unexpired term ending January 31, 2036. He was previously an economist at the Federal Reserve Board before chairing the Department of Economics at Swarthmore College.
His stint with the academe also includes time as vice president for academic affairs and dean of faculty and the Paul B. Freeland Professor of Economics at Davidson College.
Cook, on the other hand, was given an additional full 14-year term as Federal Reserve governor. Prior to the Senate’s confirmation, she was expected to fill an unexpired term ending Jan. 31, 2024. The economist brings to the board experience as a professor of economics and international relations at Michigan State University, deputy director for Africa Research at the Center for International Development at Harvard University and National Fellow at Stanford University.
Kugler, U.S. executive director at the World Bank Group, is set to fill the last open seat at the Federal Reserve Board. Her career includes time as chief economist at the Department of Labor under the Obama Administration, chair of the Business and Economics Statistics Section of the American Statistical Association and member of the Board on Science, Technology and Economic Policy of the National Academies of Sciences. She is also on leave as professor of public policy and economics at Georgetown University.
