The Federal Reserve Bank of New York today named John Williams as the bank’s next president and CEO, succeeding William Dudley, who is retiring this year. Unlike other reserve bank presidents, the New York Fed president holds a permanent seat on the Federal Open Market Committee and is historically one of the most significant roles in the Federal Reserve System.
An economist and 24-year veteran of the Federal Reserve, Williams is currently president and CEO of the San Francisco Fed. He joined the San Francisco Fed in 2002, rising to EVP and head of research before assuming his current post in 2011. Williams’ role at the New York Fed will begin on June 18.