Notable works of his include a 2005 study that evaluated the costs and benefits of monetary policy that promotes a 'high-pressure economy' in which the Fed allows easier access to cash and lower interest rates to spur tighter labor markets. His decadeslong career in academics has focused on labor markets and poverty. Jefferson, meanwhile, is vice president for academic affairs and dean of faculty at Davidson College. She also served as a senior economist in the Obama administration's Council of Economic Advisors. She is also a member of the steering committee at the Center for Equitable Growth, a progressive Washington-based think tank that counts several of Biden's top economists among its alumni. They will 'bring important perspectives to the Federal Reserve Board about the economic issues women, Black and brown workers, and rural and industrial communities across the country face.'Ĭook is a professor of economics and international relations at Michigan State University. 'With these nominees, President Biden is showing the country what a Federal Reserve standing on the side of workers and their local communities looks like,' Brown said in a statement Friday morning. Sherrod Brown, the Banking Committee's chairman and an Ohio Democrat, to serve as a governor. CNBC reported in May that she was the top choice of Sen. While Jefferson's name had more recently come up in closed-door discussions to serve as a governor, Cook's nomination was well telegraphed.

Jefferson have the necessary experience, judgment, and policy views to serve as Fed Governors,' he added. 'I have serious concerns that she would abuse the Fed's narrow statutory mandates on monetary policy and banking supervision to have the central bank actively engaged in capital allocation.' 'Sarah Bloom Raskin has specifically called for the Fed to pressure banks to choke off credit to traditional energy companies and to exclude those employers from any Fed emergency lending facilities,' he said in a statement Thursday evening. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit

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