“With the confirmation of these three historic nominees, the Federal Reserve Board of Governors will be even better equipped to provide insights into formulating monetary policies that better address the needs of the diverse communities that make up our economy,” said Jessica Fulton, interim president of the Joint Center and vice president, policy. “Dr. Cook, Dr. Jefferson, and Dr. Kugler each bring extensive economic policy experience and deep macroeconomic and labor market expertise, which collectively positions the Fed to better shape economic policy to advance the needs of our racially diverse nation. Their insight and experience will provide much-needed perspectives to support all communities.”

Jessica Fulton, vice president of policy at the Black think tank, the Joint Center for Political and Economic Studies, told theGrio that the IRA “provides a downpayment on many of the key priorities for Black communities,” including “improving access to affordable health care, keeping our air and water clean and safe, and beginning to narrow the gap between the rich and the poor.”

Fulton said she is also pleased that the Inflation Reduction Act is projected to create millions of jobs over the next decade. However, she warned that Black communities “must continue to hold the Biden administration accountable to ensure that these are good jobs that Black workers can use to support themselves and their families, invest in their communities and expand their opportunities.”