National Fair Housing Alliance Applauds Senate Confirmations to the Federal Reserve

Washington, D.C. — Following the confirmation of Dr. Lisa Cook, Dr. Adriana Kugler, and Dr. Philip Jefferson to the Federal Reserve Board of Governors by the United States Senate, Nikitra Bailey, executive vice president of the National Fair Housing Alliance (NFHA) issued this statement:

“We congratulate these distinguished leaders on confirmations that represent a huge step forward in continuing to break barriers so that our nation’s top policymakers represent the rich diversity of our communities.

Philip Nathan Jefferson, of North Carolina, speaks during the Senate Banking, Housing, and Urban Affairs Committee hearing to examine his nomination to be Vice Chairman of the Board of Governors of the Federal Reserve System, Wednesday, June 21, 2023, on Capitol Hill in Washington. (AP Photo/Mariam Zuhaib)

"With this historically diverse slate of nominees, Dr. Jefferson becomes the second Black man to serve as the board’s vice chair, the number two role of the influential institution shaping monetary policies. Dr. Cook’s renomination to a full 14-year term continues her role as the first Black woman to serve on the Fed and is an acknowledgement of her expert contributions to the board as a renowned macroeconomist as the nation continues to grapple with inflation.

Adriana Kugler of Maryland, speaks during the Senate Banking, Housing, and Urban Affairs Committee hearing to examine her nomination to be a member of the Board of Governors of the Federal Reserve System, Wednesday, June 21, 2023, on Capitol Hill in Washington. (AP Photo/Mariam Zuhaib)

"Also, Dr. Adriana Kugler is the first Latina to serve on the Federal Reserve in its 109-year history and will bring a strong background in labor to the Fed’s critically important mandate of maximum employment,” said Bailey.

“Too many families in our country continue to struggle, especially in underserved communities of color and rural communities.

"The leaders confirmed today have the professional backgrounds that will make them much-needed voices for an inclusive economy as the Federal Reserve tackles pressing issues, such as rising interest rates, employment, and the state of our financial institutions. President Biden has put forth leaders with diverse experiences and expertise and who understand the kitchen-table issues facing everyday people that will positively impact the Federal Reserve Board of Governors, small businesses, workers and families for many years to come.”