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Biden's Federal Reserve nominee Adriana Kugler would be first Latina to serve

President Joe Biden announced his nominees to the Federal Reserve on Friday, including the first Latina member. Photo by Bonnie Cash/UPI
President Joe Biden announced his nominees to the Federal Reserve on Friday, including the first Latina member. Photo by Bonnie Cash/UPI | License Photo

May 12 (UPI) -- President Joe Biden announced his nominees to the Federal Reserve on Friday, including Adriana Kugler, who would become the first Latina to serve on the board.

Kugler started her career at the Federal Reserve Bank of San Francisco, served as chief economist of the Labor Department under former President Barack Obama, and was confirmed last year to serve as U.S. executive director to the World Bank.

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New Jersey Democratic Sen. Bob Menendez previously had urged the president to nominate a Latino to the board.

"Dr. Kugler is a highly qualified and respected economist with deep expertise in labor markets, worker mobility, and youth employment," Biden said in a statement.

Also on Friday, Biden nominated Philip Jefferson to be the central bank's vice chair. Last year, Jefferson was confirmed by the Senate to be a member of the Board of Governors. He previously served as an economist at the board.

Lisa Cook also was renominated for an additional term on Friday. Cook took office as a member of the board last May and previously was an economics professor at Michigan State University.

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"These nominees understand that this job is not a partisan one, but one that plays a critical role in pursuing maximum employment, maintaining price stability, and supervising many of our nation's financial institutions," Biden said. "I am confident these nominees will help build upon the historically strong economic recovery we have had under my administration."

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