Cook, one of Biden’s reported Fed picks, is named Chicago Fed director By Reuters

© Reuters. FILE PHOTO: Chicago Federal Reserve Bank President Charles Evans prepares to moderate a panel on women in central banking including Federal Reserve Board Governor Lael Brainard, Sarah Breeden, Bank of England’s point person on climate change, Michigan Sta

By Ann Saphir

(Reuters) – Michigan State University economics professor Lisa Cook was named a director of the Federal Reserve Bank of Chicago in January, even as she is expected to be nominated any day now to the Federal Reserve Board by U.S. President Joe Biden.

Cook is beginning her three-year term as the Chicago Fed’s newest “class B” director, a spokesperson said. She is one of three such directors picked by the regional Fed bank’s member banks, and one of eight on the board, the Fed website showed on Monday.

Regional Fed banks typically announce their new boards in January, though the Chicago Fed has not made any announcement beyond updating its website. Cook is on leave this year from Michigan State and did not respond to a request for comment.

Biden reportedly plans to nominate Cook to the Fed Board, where she would be its first Black woman governor, along with former Fed Governor Sarah Raskin and Davidson College’s Philip Jefferson.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

by : Reuters

Source link

Capital Media

Read Previous

€47 million fund to protect intellectual property of EU SMEs in their COVID-19 recovery and green and digital transitions

Read Next

Le gouvernement gambien étudie l’option d’une connexion du pays à un second système sous-marin de fibre optique