President Biden just announced three highly qualified nominees to fill open seats on the Federal Reserve Board: - Sarah Bloom Raskin would be the vice-chair for bank supervision. She has previous experience as a Federal Reserve governor, the Deputy Secretary of the Treasury under President Obama, and the chief financial regulator of Maryland. Bloom Raskin is an experienced public servant and bank supervisor, with a deep understanding of the supervisory process.
- Dr. Lisa Cook’s exceptional academic and research background make her a stand-out nominee to join the Federal Reserve. Her extraordinary research focuses on the intersection between race and our economy. If confirmed to her post, she would be the first Black woman to serve on the Federal Reserve Board.
- Dr. Philip Jefferson joins a slate of nominees who are committed to maintaining stability in our economy in the midst of the pandemic. A former Federal Reserve employee, Dr. Jefferson brings his expertise as a professor specializing in labor markets and poverty to the institution.
The Federal Reserve Board oversees the American banking system and economy. Bloom Raskin, Cook, and Jefferson are strong nominees who aren’t afraid to rein in Wall Street and the Big Banks to stop them from causing another financial collapse. And their presence in the Federal Reserve will better represent the diversity of our country, including the women and communities of color that were hit hardest by the pandemic. However, CNBC is reporting that President Biden’s nominees could face a tough battle to be confirmed in the Senate. At least one of your senators is on the Senate Banking Committee. The first step to confirmation is a favorable vote in committee. Please send an email to your senator right away and urge them to support President Biden’s highly-qualified Federal Reserve Board nominees. (If you’re not sure who is on the Banking Committee, don’t worry — our online tool will help make sure your message goes to the right person.) Thanks for taking a minute to make your voice heard, East
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