Sarah Bloom Raskin and Lisa Cook would be the first Black woman to serve as a governor. Phillip Jefferson, an economist, dean of faculty at Davidson College in North Carolina, and a former Fed researcher are also nominated. The three nominations will have to be approved by the Senate. The nomination will be welcomed by progressive senators and advocacy groups, who see her as a tougher bank regulator than Chair Jerome Powell. For that reason, she has already drawn opposition from Republican senators, but she has drawn some opposition from GOP senators. Cook, with Jefferson, would be fourth and fifth Black members of the Fed’s Board of Governors in its 108-year history in the U.S. history, in addition to the fifth Black member of the board. . . .
Read more at www.crainsdetroit.com