Fed Board to reach its full complement of 7 with confirmation of first Hispanic member

Adriana Kugler was confirmed to a 14-year term on the board of governors of the Federal Reserve Thursday, the first Hispanic to serve on the agency’s governing panel.

Kugler was approved on a vote of 53-45, with Democrats and some Republicans supporting her confirmation.

Late Wednesday, the Senate confirmed Lisa Cook to a new, 14-year term on the board on a vote of 51-47; she was already serving on a board (serving since 2022). Phillip Jefferson was also confirmed Wednesday to a four-year term as vice chair of the board.

Once Kugler is sworn in, the Fed board will be up to its full complement of seven members.