The US Senate on Thursday confirmed the appointment as governor of the US central bank (Fed) of economist Adriana Kugler, who becomes its first official of Hispanic origin, the day after the confirmation of Philip Jefferson as vice-president of the ‘institution.
Adriana Kugler, United States representative at the World Bank and economist specializing in the labor market, was chosen in May by President Joe Biden.
The daughter of Colombian immigrants, she will fill the position left vacant within the Board of Governors of the Fed by the departure of Lael Brainard, who was vice-president, and is now the head of the team of economists of the House White.
The Senate also confirmed on Wednesday the appointment, as vice-president of the Fed, of Philip Jefferson, who has held a position of governor since May 2022. He becomes the second African-American vice-president of the Fed, after Roger Ferguson entered 1999 and 2006.
Furthermore, Governor Lisa Cook, who was the first African-American woman to serve on the Fed, saw her mandate renewed for a period of 14 years. In fact, upon arrival at this position in May 2022, she had taken over that of her predecessor, which expires in January 2024.
With the confirmation of these exceptional economists at the Federal Reserve, the American people can be certain that the important mission of the Fed remains in good hands and that it will continue to work for them, without any partisan agenda, greeted Joe Biden in a communication.
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The American president had promised to bring more diversity to the board of governors of the Fed, when he, in November 2021, reappointed President Jerome Powell for a second term.
The Fed’s main current priority is to slow inflation, while avoiding pushing the US economy into recession.
The next monetary meeting, with a now full Board of Governors, will take place on September 19 and 20.
2023-09-08 06:16:40
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