Adriana Kugler, first Hispanic governor of the Federal Reserve: "I am fortunate to have lived the American dream"

Adriana Kugler will become the first Latina to become governor of the Federal Reserve on Wednesday. She will be the first Hispanic American in this important position.

Kugler was nominated for the position by President Joe Biden in response to requests from Democratic Senator Bob Menendez, who welcomed her impending appointment:

At age 53, Adriana Kugler will be the first Latina to join the Federal Reserve Board in its 109-year history. In her speech, Kugler is expected to talk about her preparation and her Hispanic roots: "I am fortunate to have lived the American dream," she said in a preview of his speech before the Senate released by the Banking Committee.

As reported by the White House following her nomination, Kugler is an expert in labor markets, international economics and applied econometrics. Her work has been published in leading journals in the field.

Kugler was appointed chief economist at the Department of Labor under the Barack Obama administration (2009-2017), when Biden was vice president, and has served on the board of Science, Technology, and Economic Policy of the U.S. National Academies of Sciences.

The Fed's Board of Governors is composed of seven people who serve a 14-year term. A new term begins every two years and a person who serves the full term cannot be re-elected. However, if someone completes a half-term, they can be re-elected. The Fed is chaired by Jerome Powell.