UAW PRESIDENT RAY CURRY ISSUES STATEMENT ON PRESIDENT BIDEN’S APPOINTMENTS TO THE FEDERAL RESERVE

Detroit – “President Bidens’ appointment of Professor Lisa Cook and Philip Jefferson to the Federal Reserve’s Board of Governors is a breath of fresh air as they bring much needed diversity and with that a deeper appreciation as to how the Fed influences the daily lives of all UAW members, retirees and working Americans throughout the country.

 Workers are increasingly impacted by climate change and the advent of new technologies. Meanwhile, unfair lending practices and discrimination in our financial markets continue to create roadblocks for people pursuing the American dream. Working Americans need board members who will deepen the Fed’s understanding as to how their actions impact our daily economic security.  Cook and Jefferson have demonstrated that they are well suited to help the Fed meet these challenges head on.

 In addition, with the appointment of Sarah Bloom Raskin to the top job overseeing the nation’s banks, President Biden has acted to ensure average Americans will have a seat at the table when important economic decisions are made, I strongly urge the Senate move swiftly to confirm all three candidates so they can bring the voice of America’s working families to the powerful Federal Reserve.”