Senate approves Lisa Cook as first Black woman to Fed post

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — The Senate has confirmed Michigan State economist Lisa Cook to serve on the Federal Reserve’s board of governors. She becomes the first Black woman to do so in the institution’s 108-year history. Her approval was on a narrow, party-line vote of 51-50, after Senate Republicans argued that she is unqualified for the position, saying she doesn’t have sufficient experience with interest rate policy. They also said her testimony before the Senate Banking Committee suggested she wasn’t sufficiently committed to fighting inflation, which is running at four-decade highs.  Cook has a doctorate in economics from the University of California, Berkeley, and has been a professor of economics and international relations at Michigan State since 2005.