Fed Board reaches full complement of seven members with three sworn in to positions

The Federal Reserve Board has a new vice chair and a full complement of seven members following the swearing in Wednesday of three newly Senate-confirmed governors for the central bank.

Phillip N. Jefferson, Lisa D. Cook and Adriana D. Kugler were all sworn in, individually, to their terms on the Fed Board by Chair Jerome H. (“Jay”) Powell in ceremonies at the agency headquarters in Washington.

Jefferson, who was already serving on the board, was sworn in for a four-year term as vice chair. His term as a board member ends in January 2036.

Cook, who was also already serving on the board, was sworn in for a second, full 14-year term. Her new term on the board ends in January 2036.

Kugler is the only rookie who was sworn in Wednesday. Her term ends in January 2026.

All three were confirmed by the Senate last week (Sept. 6 and 7).

IN THE PHOTOS (top): Fed Board Chair Jay Powell administers the oath of office to new Vice Chair Phillip Jefferson; (middle): the chair swears in continuing Board Member Lisa Cook (right); (bottom): Powell administers the oath to new Board Member Adriana Kugler.