The economist Lisa Cook was confirmed as the first Black woman on the Federal Reserve Board in a historic moment for the central bank as it tries to stabilize a recovery that serves all Americans.
in the Senate, with Vice President Harris casting the tiebreaking vote.
No Republicans voted for Cook, and Democrats, who hold a razor-thin majority, had delayed moving forward on her nomination until they could assemble all 50 of their members to back her.Cook is among the country’s preeminent economists and teaches at Michigan State University. Her research has focused on macroeconomics, economic history, international finance and innovation, particularly on how hate-related violence has harmed U.S. economic growth.
Her work has analyzed how patent records show that the riots, lynchings and Jim Crow laws that targeted African American communities in the late 1800s and early 1900s hurt Black people’s ability to pursue inventions and discoveries at the time.“If there is something that impedes the rate of arrival of ideas, you’re going to slow down the economy,” Cookon the “Planet Money” podcast in 2020. “It’s not just for that period. And it’s not just for Black people.
Cook also worked on the White House’s Council of Economic Advisers during the Obama administration and has held visiting appointments at the National Bureau of Economic Research, the University of Michigan and the Federal Reserve Banks of New York, Chicago, Minneapolis and Philadelphia.
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