Flores-Lagunes Comments on Biden’s Nomination for Federal Reserve Board in Bloomberg Article

May 22, 2023

Bloomberg

Alfonso Flores-Lagunes

Economics Department

Center for Policy Research

Federal

LatinX

United States

Bloomberg

Alfonso Flores-Lagunes

President Joe Biden said he will nominate Adriana Kugler as governor on the Federal Reserve Board, setting her on a path to become the central bank’s first policymaker of Latino heritage in its 109-year history.

“She understands what the Fed is about—both the bad effects of inflation but also at the same time how putting the brakes on the economy might affect different groups differentially,” says Alfonso Flores-Lagunes, professor of economics and president of the American Society of Hispanic Economists.

Flores-Lagunes says the nomination is “fundamental,” calling the lack of Hispanic represenation at the Fed a “glaring aspect of inequality” in the U.S.

Read more in the Bloomberg article, “Biden to nominate economist Adriana Kugler to Fed post, first Latina on board.”