Braking Down The News

Biden Taps Economists Lisa Cook, Philip Jefferson for Fed Seats

If confirmed by Senate, Jefferson and Cook would be fourth and fifth Black governors to serve on Fed’s board in its 109-year history


President Biden will seek to fill two seats on the Federal Reserve’s Board of Governors with academic economists Lisa Cook of Michigan State University and Philip Jefferson of Davidson College, the White House said Thursday.

Mr. Jefferson, vice president for academic affairs and dean of faculty at Davidson in North Carolina, has spent most of his career in academia since 1990, when he earned his Ph.D. in economics, specializing in monetary economics and finance, at the University of Virginia. He was an economics professor at Swarthmore College from 1997 to 2019 and spent a year as a staff economist in the division of monetary affairs at the Fed board in Washington in the 1990s.


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