2023-06-22 02:41:53
“As a first-generation American and the daughter of Colombian immigrants, I am lucky to have lived the American dream after seeing poverty and adversity.”
These were the words with which Colombian-born economist Adriana Kugler began her appearance on Wednesday before the US Senate Committee on Banking, Housing, and Urban Affairs.
Her statements, which are available on the official website of the Committee, were given during the confirmation hearing to be governor of the Federal Reserve (Fed) –US central bank–, a position to which President Joe Biden nominated her in mid-May. , but whose appointment must be voted on by that Senate committee.
Kugler took the opportunity to thank the nomination and tell details of his life – and that of his parents – that were “determinants” in the race to occupy one of the most important positions in the Fed.
“My parents worked hard every day to make sure that I had every opportunity available to succeed. My family has instilled in me the importance of resilience and an unwavering work ethic, as well as the value of giving back to those less fortunate,” Kugler added.
Dr. Adriana Kugler is the first-ever Latino American nominated to the @federalreserve Board of Governors.
She is exceptionally qualified and will bring a much-needed voice to the Fed as it works to uplift workers and bring down prices. pic.twitter.com/oYaWGRy1WR
— Senate Banking and Housing Democrats (@SenateBanking) June 21, 2023
If confirmed by the Senate, Kugler would become the first Latina to serve on the board that controls the US economy in the institution’s more than 100-year history. Her appointment should have no obstacles since the Democrats are in the majority in the upper house.
My parents worked hard every day to make sure that I had every opportunity available to succeed.
“I will be deeply committed to a monetary policy that reduces inflation and promotes employment (…). Right now, inflation is critical. It is very important to keep bringing inflation down to your two percent target. I am committed to that, ”she said after making a presentation of what her priorities would be in office.
On the other hand, Democratic Senator Bob Menéndez, who was present at the session, supported his appointment. “This nomination is a golden opportunity to send a clear and powerful message that the wishes of Latinos are central to the United States.”
During today’s Banking Committee hearing, I had the pleasure of introducing the President’s Federal Reserve Board of Governors Nominee, Dr. Adriana Kugler.
If confirmed, Dr. Kugler would be the first Hispanic American to serve on the Board in the Fed’s nearly 110-year history. pic.twitter.com/hiKgyWBPSx
— Senator Bob Menendez (@SenatorMenendez) June 21, 2023
Until now, Kugler has served as the World Bank Group’s executive director for the United States. She is an expert in labor markets, international economics, and applied econometrics, and has published in leading journals.
She was appointed Chief Economist of the Department of Labor under the Barack Obama Administration (2009-2017), of which Biden was Vice President, and has also served on the Board of Science, Technology and Economic Policy of the National Academies of Sciences of the United States. Joined
CARLOS JOSE REYES
INTERNATIONAL SUB-EDITOR
TIME
#Adriana #Kugler #step #closer #governor #Federal #Reserve #USA #International