Unions, Civil Rights, Financial and Environmental Justice Groups Back President Biden’s Slate of Federal Reserve Nominees

WASHINGTON, D.C. — In a letter addressed to Senator Sherrod Brown (D-Ohio), Chairman of the Senate Banking Committee, a coalition of 95 unions, civil rights, financial, and environmental groups declared their support for Dr. Lisa Cook, Dr. Philip Jefferson, and Sarah Bloom Raskin, all nominated by President Joe Biden to serve on the Federal Reserve’s Board of Governors.

“These nominees are committed to maintaining stability in our economy in the midst of the pandemic, encouraging economic growth that benefits all working people, and fighting the impacts of inflation, all while preserving the independence of the Fed,” wrote the groups in the letter. “We believe that these nominees’ depth of scholarship combined with bipartisan experience and diverse coalition of supporters indicate that they would be powerful additions to the Federal Reserve Board of Governors.”

The letter details the long list of qualifications of each candidate and calls for their swift confirmation. All three nominees will sit for their confirmation hearings before the Senate Banking Committee on Thursday morning.

The signers on the letter include:

Public Citizen

Action Center on Race and the Economy

AFL-CIO

American Federation of State, County and Municipal Employees (AFSCME)

Americans for Financial Reform

Center for Responsible Lending

Center for Economic and Policy Research

Color Of Change

Communications Workers of America (CWA)

Consumer Action

Evergreen Action

Friends of the Earth U.S.

Greenpeace USA

Honor the Earth

Indigenous Environmental Network

Institute for Agriculture and Trade Policy

Institute for Local Self-Reliance

League of Conservation Voters

Main Street Alliance

National Community Reinvestment Coalition (NCRC)

National Urban League

Oil Change International

Open Markets Institute

Prosperity Now

Revolving Door Project

Service Employees International Union (SEIU)

Society of Native Nations

Sierra Club

Sunrise Movement

United Auto Workers