U.S. Senators Debbie Stabenow and Gary Peters announced that the U.S. Senate confirmed the nomination of Dr. Lisa Cook to serve on the Board of Governors of the Federal Reserve System. Dr. Cook will be the first Black woman to serve on the Board. She is currently a professor in the Department of Economics at Michigan State University.
“Dr. Lisa Cook is the right person at the right time to serve at the Federal Reserve. Today’s confirmation comes at a moment when the Federal Reserve needs the best and the brightest to help us recover from the COVID-19 pandemic. Dr. Cook’s perspective and experience is unmatched and will be instrumental in our nation’s recovery. Her nomination is also historic, as she will be the first Black woman to serve on the Board. I’m so proud to see one of Michigan’s best at the Federal Reserve—I know she’ll do an amazing job,” said Stabenow.
“As we work to bolster our economic recovery, we must ensure our workers and small businesses can thrive and that we can lower costs for families,” said Peters. “Michigan’s own Dr. Lisa Cook has the experience and leadership needed to help strengthen our economy and support families across our state. I was proud to support her historic confirmation and am confident her perspective will serve our nation well on the Federal Reserve.”
On January 14, President Biden nominated Cook to serve on the Board of Governors of the Federal Reserve System. The Senate Banking Committee approved her nomination on March 16.
Cook is a professor of Economics and International Relations at Michigan State University. She was the first Marshall Scholar from Spelman College and received a second B.A. in Philosophy, Politics, and Economics from Oxford University. She earned a Ph.D. in economics from the University of California, Berkeley with fields in macroeconomics and international economics. She was an adjunct professor at Harvard University’s Kennedy School of Government, Deputy Director for Africa Research at the Center for International Development at Harvard University, and a National
Fellow at Stanford University. Among her current research interests are economic growth and development, innovation, financial institutions and markets, and economic history.
Cook is a research associate at the National Bureau of Economic Research and is the author of a number of published articles, book chapters, and working papers. She is also on the Board of Editors of the Journal of Economic Literature. She also served at the White House Council of Economic Advisers under President Obama and also had 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. She serves on the Advisory Boards of the Federal Reserve Bank of Chicago (Academic Advisory Council).
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