U.S. Senate confirms Adriana Kugler to the Fed Board

(Reuters) -The U.S. Senate on Thursday confirmed World Bank economist Adriana Kugler to the Federal Reserve Board of Governors, where she will help set interest rates for the world’s biggest economy.

Kugler, whose research has focused on labor markets, is the first Latina to be nominated to the U.S. central bank. The vote was 53-45, with a few Republicans supporting the nomination that was championed by Senator Bob Menendez.

The Senate on Wednesday also confirmed Fed Governor Philip Jefferson as Fed vice chair and Fed Governor Lisa Cook to a second term.

With Kugler’s addition, the Fed Board now has its full seven members, who along with the Fed’s 12 regional bank presidents set monetary policy for the world’s biggest economy.

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