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Fed Board at Full Strength, Ukraine Legislation Moved Forward

The Federal Reserve Board of Governors has been operating with only five of its seven Governors for months as the Senate struggled to approve Biden’s nominations of economists Lisa Cook and Philip Jefferson to the Board.  The hang-up was united Republican opposition to Lisa Cook, a Michigan State economics professor.  In Committee she failed to get any Republican votes.  Senator Pat Toomey, the ranking Republican on the Senate Banking Committee, felt that Ms. Cook didn’t have

The Federal Reserve Board of Governors has been operating with only five of its seven Governors for months as the Senate struggled to approve Biden’s nominations of economists Lisa Cook and Philip Jefferson to the Board.  The hang-up was united Republican opposition to Lisa Cook, a Michigan State economics professor.  In Committee she failed to get any Republican votes.  Senator Pat Toomey, the ranking Republican on the Senate Banking Committee, felt that Ms. Cook didn’t have any experience in monetary policy and was an advocate for far left economic policy that he and other Republicans oppose.

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