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Tuesday, January 25, 2022

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New Regional Federal Reserve Bank Chairs Named for 2022

The Board of Governors of the Federal Reserve System, additionally referred to as the Federal Reserve Board (FRB) for brief, introduced on Jan. 5, 2022, the brand new chairs and deputy chairs of the 12 regional Federal Reserve Banks for 2022. Every regional Federal Reserve Financial institution has a nine-member board of administrators. The FRB in Washington appoints three of those administrators and annually designates certainly one of its appointees to function chair and one other to function deputy chair.

The Federal Reserve Bank of New York, attributable to its location within the nation’s monetary capital, is mostly thought to be essentially the most influential of the 12 regional Federal Reserve Banks. Its new chair for 2022 shall be Rosa M. Gil, the founder, president, and chief govt officer (CEO) of Comunilife, Inc. She joined the New York Fed’s board as a Class C director in January 2018 and has served as its deputy chair since January 2019.

The brand new deputy chair on the New York Fed for 2022 shall be Vincent Alvarez, president of the New York Metropolis Central Labor Council, an affiliate of the AFL-CIO. He joined the New York Fed’s board as a Class C director in January 2019.

Key Takeaways

  • The Federal Reserve Board (FRB) has named the 2022 chairs and deputy chairs for every of the 12 regional Federal Reserve Banks.
  • The announcement contains a mixture of reappointments and new appointments.
  • Economist Philip Jefferson could also be President Biden’s nominee for an open seat on the FRB.

Philip Jefferson Could Fill Open FRB Seat

In the meantime, Philip Jefferson, an economist on the school of Davidson School in North Carolina, is being talked about as prone to be nominated by President Biden to fill an open seat on the Federal Reserve Board (FRB). If nominated by Biden and confirmed by the U.S. Senate, Jefferson can be the fourth Black man to serve on the FRB in its historical past.

Jefferson is also the vice chairman for tutorial affairs and the dean of school at Davidson. He holds a Ph.D. in economics from the College of Virginia. He beforehand labored on the Fed as an economist in its financial affairs division from 1996 to 1997, and, previous to that, as a analysis assistant in its fiscal evaluation part from 1983 to 1985.

Jefferson has authored and edited books on poverty and centered his instructing on inequality. He has taught at Columbia College, the College of Virginia, and Swarthmore School, whereas additionally having been a visiting assistant analysis economist on the College of California, Berkeley.

Different 2022 Regional Reserve Financial institution Appointments

The newly named chairs and deputy chairs of the opposite 11 regional Federal Reserve Banks in 2022 are:

Boston
Renamed chair: Christina Hull Paxson, president, Brown College, Windfall, Rhode Island.

Renamed deputy chair: Corey Thomas, chairman and chief govt officer, Rapid7, LLC, Boston, Massachusetts.

Philadelphia
Renamed chair: Madeline Bell, president and chief govt officer, The Kids’s Hospital of Philadelphia, Philadelphia, Pennsylvania.

Renamed deputy chair: Anthony Ibarguen, chief govt officer, Quench USA, Inc., King of Prussia, Pennsylvania.

Cleveland
Renamed chair: Dwight E. Smith, president and chief govt officer, Refined Methods, Inc., Columbus, Ohio.

Renamed deputy chair: Doris Carson Williams, president and chief govt officer, African American Chamber of Commerce of Western Pennsylvania, Pittsburgh, Pennsylvania.

Richmond
Renamed chair: Eugene A. Woods, president and chief govt officer, Atrium Well being, Charlotte, North Carolina.

Renamed deputy chair: Jodie W. McLean, chief govt officer, EDENS, Washington, D.C.

Atlanta
Renamed chair: Elizabeth A. Smith, former govt chair, Bloomin’ Manufacturers, Inc., Tampa, Florida.

Renamed deputy chair: Claire Lewis Arnold, chief govt officer, Leapfrog Providers, Inc., Atlanta, Georgia.

Chicago
New chair: Helene D. Gayle, M.D., president and chief govt officer, The Chicago Group Belief, Chicago, Illinois.

New deputy chair: Jennifer F. Scanlon, president and chief govt officer, UL Inc., Northbrook, Illinois.

St. Louis
New chair: James M. McKelvey, Jr., founder and chief govt officer, Invisibly, Inc., St. Louis, Missouri.

New deputy chair: Carolyn Chism Hardy, president and chief govt officer, Chism Hardy Investments, LLC, Bartlett, Tennessee.

Minneapolis
Renamed chair: Srilata Zaheer, dean, Carlson Faculty of Administration, College of Minnesota, Minneapolis, Minnesota.

Renamed deputy chair: Chris Hilger, chairman, president, and chief govt officer, Securian Monetary, St. Paul, Minnesota.

Kansas City
Renamed chair: Edmond Johnson, president and chief govt officer, Premier Manufacturing, Inc. and president and chief govt officer, eNFUSION, Frederick, Colorado.

Renamed deputy chair: Patrick A. Dujakovich, president, Higher Kansas Metropolis AFL-CIO, Kansas Metropolis, Missouri.

Dallas
New chair: Thomas J. Falk, retired chairman and chief govt officer, Kimberly-Clark Company, Dallas, Texas.

New deputy chair: Claudia Aguirre, president and chief govt officer, BakerRipley, Houston, Texas.

San Francisco
New chair: Tamara L. Lundgren, chairman, president, and chief govt officer, Schnitzer Metal Industries, Inc., Portland, Oregon.

New deputy chair: David P. White, fast previous chief govt officer and present strategic advisor, Display screen Actors Guild (SAG-AFTRA), Los Angeles, California, and present enterprise accomplice, Ulu Ventures, Palo Alto, California.

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