Lisa Cook’s Fed nomination advances in Senate

The nomination of Lisa Cook to the Federal Reserve Board of Governors on Tuesday advanced to the Senate floor for a vote. Senators approved a resolution 50 to 49 that broke a deadlock in the Senate Banking Committee, where Republicans had refused to back her. The panel previously advanced President Joe Biden’s other nominees including Jerome Powell for a second term as Fed chairman; Lael Brainard as vice chair; and Philip Jefferson as a Fed governor. If confirmed, Cook would be the first Black woman on the Fed. All four nominees are awaiting votes in the full Senate.

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