Lisa Cook is Unqualified for the Federal Reserve Board

Source: American Institute for Economic Research
by Alexander William Salter

“There was recently a heated debate in the United States Senate over the Federal Reserve Board. Dr. Lisa Cook, one of President Biden’s nominees, failed her confirmation vote 51-47. Senate Majority Leader Chuck Schumer (D-NY) voted ‘no,’ which enabled him to bring Cook’s appointment up for another vote in the future. … In all likelihood, progressive Democrats will continue to support her. But Republicans and moderate Democrats have raised important questions about her qualifications for the job, as well as how she would likely conduct monetary policy. In my opinion, Dr. Cook is not qualified for the position. Her expertise in economic history does not translate well to problems of monetary policy. Over her career, she focused her considerable intelligence on racial discrimination in the US economy. This is a worthwhile project. But it won’t help her at the highest levels of monetary policy decision-making.” (05/04/22)