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September 7, 2023

With the New Highly Qualified Vice Chair and Governors, the Federal Reserve Board After 110 Years Finally Reflects the Strength of America’s Diversity

WASHINGTON, D.C.— Dennis M. Kelleher, Cofounder, President and CEO, issued the following statement upon the Senate’s confirmations of Dr. Jefferson for Vice Chair and Drs. Cook and Kugler for Governors of the Federal Reserve Board:

“After 110 years, the Federal Reserve Board finally reflects the strength of America’s diversity with the confirmation of Vice Chair Jefferson and Governors Cook and Kugler.  They are all outstanding scholars, economists, experts, and public servants. Drs. Jefferson and Cook’s year-plus of experience on the Board confirms that they are exceedingly well-qualified and capable of fulfilling their duties while bringing their diversity of backgrounds, experience, and views to inform Fed decision making.

“As the first Latina to ever serve on the Fed Board, Dr. Kugler’s historic confirmation will also bring a wealth of experience, expertise, and qualifications along with invaluable diversity.  Her data-driven, evidence-based approach to policymaking and critical economic issues, including labor markets, worker mobility, and productivity, will prove vitally important to the Fed as it faces unprecedented challenges. Like Dr. Jefferson and Dr. Cook, she will bring a set of life experiences that are too often excluded from the halls of power in America.

“We welcome this week’s confirmations as yet another step in ensuring that our government truly looks like America and reflects the strength of our diversity.  That is the foundation of representative democracy and it is as necessary as it is critical at the highest levels like the Fed Board where decisions have a dramatic impact on the lives and livelihoods of all Americans.”

A detailed overview of the Dr. Philip Jefferson, Dr. Lisa Cook, and Dr. Adriana Kugler can be found here.


Better Markets is a non-profit, non-partisan, and independent organization founded to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies—including many in finance—to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit

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