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Ranking Member Waters Applauds President Biden’s Nominations to the Federal Reserve Board of Governors

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following President Biden’s nominations to the Board of Governors of the Federal Reserve System:

“I applaud the Biden Administration for its recent nominations to the Federal Reserve Board of Governors. If confirmed, these nominees will go a long way in helping our country further turn the tide and build on much of the economic success we’ve achieved under the Biden Administration.

“First, I am pleased that President Biden listened to the calls I made last year urging the Administration to appoint Dr. Lisa Cook to a full 14-year team on the Board. Last year, Dr. Lisa Cook made history by becoming the first Black woman to serve on the Board. Since then, Dr. Cook has led the effort to chip away at the persistent racial equities in our economy. Dr. Cook’s exemplary work has helped the U.S. economy bounce back from the COVID-19 pandemic and she has continued to lead the way in the face of economic challenges stemming from Russia’s invasion of Ukraine. I have no doubt in my mind that our economy will continue to benefit from her considerable expertise and leadership.

“Next, I am elated that Dr. Adriana Kugler, if confirmed, will make history as the first Latina member to serve on the Board of Governors. Not only will Dr. Kugler’s presence help to further ensure that the Fed represents the diversity of the public they serve, but her wealth of experience, particularly on issues surrounding the labor market will be critical to building on the job growth we’ve seen and creating an even stronger and more inclusive economy.

“I am also pleased to see that Dr. Phillip Jefferson has been nominated to the position of Vice Chair. For the past year, Dr. Jefferson has played an important role in supporting job creation and economic stability in the U.S., and I am confident that he will continue this effort as Vice Chair.

“It is important that there be a full Fed Board during this critical time, so I look forward to the Senate swiftly confirming President Biden’s nominees.”

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