(Washington) The US Senate confirmed Thursday the appointment as governor of the US Federal Reserve (Fed) of economist Adriana Kugler, who becomes its first head of Hispanic origin, the day after the confirmation of Philip Jefferson as vice-president. president of the institution.
Adriana Kugler, United States representative to 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 occupy the position left vacant on the Board of Governors of the Fed by the departure of Lael Brainard, who was vice-president, and is now at the head of the team of economists of the White House.
The Senate also confirmed on Wednesday the appointment, as vice-president of the Fed, of Philip Jefferson, who has held a post of governor there since May 2022. He becomes the second African-American vice-president of the Fed, after Roger Ferguson between 1999 and 2006.
In addition, Governor Lisa Cook, who was the first African-American woman to serve on the Fed, had her term renewed for 14 years. In fact, upon her arrival in this position in May 2022, she took 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 confident that the Fed’s important mission remains in good hands and that it will continue to work for them, without any partisan agenda,” he said. Joe Biden in a press release.
The American president had promised to bring “more diversity” to the Fed’s board of governors when, in November 2021, he reappointed President Jerome Powell for a second term.
The Fed’s main priority right now is to slow inflation, while avoiding pushing the U.S. economy into recession.
The next monetary meeting, with a full Board of Governors, will take place on September 19 and 20.
