EAST LANSING, Mich. (WLNS) – Michigan State University economist and professor Lisa D. Cook has been confirmed by the Senate Banking Committee to the Board of Governors of the Federal Reserve System.

She is the first Black woman to serve on the board in its 108 years of existence.

The Federal Reserve Bank, the United States’ central bank, is part of the Federal Reserve System.

“I’d like to thank President Biden for nominating me to serve on the Board of Governors of the Federal Reserve System,” Cook said in a press release. “I’m honored to serve the public through this important U.S. institution.”

The first Black man to serve on the Federal Reserve Board of Governors was Andrew F. Brimmer. He was also was an assistant professor at MSU’s Department of Economics from 1958 to 1961. 

“I offer my sincere congratulations to Professor Cook being confirmed as a governor of the Federal Reserve System,” said MSU President Samuel L. Stanley Jr., M.D. “Her background, scholarly activity and prior governmental experience make her an outstanding candidate for this vital position.”

Cook previously served on then-President-elect Joe Biden and Vice President-Elect Kamla Harris’s transition team in 2020. She also was recognized by Fortune magazine as one of 19 Black Economists to Celebrate.