Senate Prepares Confirmation Vote for Lisa Cook

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Senate Prepares Confirmation Vote for Lisa Cook
31 Mar 2022
5 min read

News Synopsis

On Tuesday, the Senate resolved that economist Lisa Cook would move forward by appointing a seat on the Federal Reserve Board.

Cook, a professor of international affairs and economics at Michigan State University, tied at the Senate Banking Commission earlier this month, with all 12 Democrats on the panel supporting her nomination and 12 Republicans opposed.

Under the Senate rules, a nominee who receives a tied vote in the committee can advance to a vote in the full chamber through a motion by the majority leader. Democrats have 50-50 control of the Senate, with Vice President Kamala Harris able to break a tie. 

Tuesday`s 50-49 procedural vote to improve Ms Cook`s nomination may want to set up a complete Senate vote later this week for her and 3 of President Biden`s different Fed nominees, which include Fed Chairman Jerome Powell, who superior through the banking committee in advance this month with a 23-1 vote.

Ms Cook, who can also be the first Black woman to serve the Fed’s board, has focused her research on policies that promote economic opportunities, specifically for racial minorities and women.

Biden also nominated Federal Reserve President Lael Brainard as Vice-Chairwoman of the Board and Philip Jefferson, an economist and administrator at Davidson College, North Carolina, as Federal governer.

At a hearing on February 3, some Republicans quoted that she lacks sufficient experience in macroeconomics in monetary policy, a claim that Ms Cook countered with her research experience and her work in the Treasury Department and on the White House Council of Economic advisors.

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