Friday, September 29, 2023

Colombian becomes new Fed governor in the United States

The United States Senate confirmed that the Colombian, Adriana Kugler is the first Latina to join the Federal Reserve Board of Governors (Fed), the country’s central bank.

As a World Bank economist and labor market expert Kugler will play a key role in interest rate decisions affecting the world’s largest economy.

Kugler’s confirmation to the Federal Reserve was achieved with 53 votes in favor and 45 against, underscoring his recognition and support in the Senate. This nomination comes from the President Joe Biden, who described her as a highly qualified professional and experienced.

Kugler was chief economist at the U.S. Department of Labor during the Obama administration. She also played a prominent role as executive director of the World Bank Group in the United States and served on the Bureau of Labor Statistics’ Technical Advisory Board.

The 53-year-old economist has Colombian roots and was born in the USA, but returned to Colombia at an early age and lived there until she was 15, when she returned to the USA. During her testimony before the Senate, she shared her personal experiences as the daughter of Colombian immigrants and highlighted how she experienced it “American Dream” Thanks to the educational and economic opportunities the country offered him.

Likewise, Kugler promised to use his personal and professional experience to combat inflation in the United States and make appropriate monetary policy decisions. His appointment reflects the diversity and experience he brings to the Federal Reserve, which could have a significant impact on the nation’s economy and labor markets.

Nation World News Desk
Nation World News Desk
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