National Urban League Applauds President Biden's Historic Nomination of Lisa Cook and Phillip Jefferson to Federal Reserve Board of Governors
WASHINGTON, D.C. (January 14, 2022) — Today, National Urban League President and CEO Marc H. Morial released the following statement in response to President Biden’s historic nomination of Lisa Cook and Phillip Jefferson to serve on the Board of Governors (Board) of the Federal Reserve System (The Fed). If confirmed, Lisa Cook and Phillip Jefferson would become the first Black woman and the fourth Black man, respectively, to serve on the Fed Board in the central bank’s 108-year history.
Dr. Cook, an Economics and International Relations Professor at Michigan State University, is one of the most accomplished and internationally known macroeconomists. She brings a wealth of knowledge on banking systems, innovation, markets, and global finance to this role, and has a long and proven track record of advocating for more equitable participation of women and African Americans to boost the nation’s economic potential and reduce inequality. Dr. Cook holds bachelors’ degrees from Spelman College and Oxford University, and a Ph.D. in Economics from the University of California, Berkeley.
Dr. Jefferson currently serves as Dean of Faculty and the Paul B. Freeland Professor of Economics at Davidson College. He began his career as an economist for the Federal Reserve Board and has held visiting appointments at the Federal Reserve Bank of New York and the University of California at Berkeley. He holds a bachelor’s degree in Economics from Vassar College, and a PhD and MA in Economics from the University of Virginia.
“The National Urban League commends President Biden for following through on his commitment to appoint qualified nominees like Dr. Cook and Dr. Jefferson, who represent the rich diversity of this nation. In the fall, we joined a letter with other civil rights leaders encouraging the President to consider more than one Black American to serve on Federal Reserve Board.
"We congratulate both nominees and urge swift Senate consideration of their historic nominations to the Fed Board to better ensure that our nation’s central bank has the leadership necessary to fulfill its critical mission as our nation continues to recover from the COVID-19 pandemic.”
The National Urban League is a historic civil rights organization dedicated to economic empowerment in order to elevate the standard of living in historically underserved urban communities. The National Urban League spearheads the efforts of its 90 local affiliates through the development of programs, public policy research and advocacy, providing direct services that impact and improve the lives of more than 2 million people annually nationwide. Visit www.nul.org and follow us on Twitter and Instagram: @NatUrbanLeague.
The National Urban League is a historic civil rights organization dedicated to economic empowerment in order to elevate the standard of living in historically underserved urban communities. The National Urban League spearheads the efforts of its 90 local affiliates through the development of programs, public policy research and advocacy, providing direct services that impact and improve the lives of more than 2 million people annually nationwide. Visit www.nul.org and follow us on Twitter and Instagram: @NatUrbanLeague.