WASHINGTON (MNI) – The following are excerpts from the statement
Tuesday by the San Francisco Federal Reserve announcing its new
president:
SAN FRANCISCO, March 1, 2011 Dr. John C. Williams has been
appointed president and chief executive officer of the Federal Reserve
Bank of San Francisco, according to an announcement by Douglas W.
Shorenstein, chairman of the San Francisco bank’s board of directors.
Dr. Williams, whose appointment is effective today, has been executive
vice president and director of research at the San Francisco Federal
Reserve Bank since 2009.
He succeeds Dr. Janet L. Yellen, who resigned on October 4, 2010,
when she was sworn in as vice chair of the Federal Reserve Board of
Governors in Washington, D.C. In his new role, he will serve on the
Federal Open Market Committee, bringing his district’s perspective to
monetary policy discussions in Washington. He is the twelfth president
named to head the Twelfth District of the Federal Reserve.
…
Dr. Williams, 48, earned a Ph.D. in economics from Stanford
University in 1994, an MSc. in economics with distinction from the
London School of Economics in 1989, and an A.B. with high distinction in
economics from the University of California at Berkeley in 1984.
He joined the Board of Governors in 1994 as an economist and served
as a senior economist from 1998 to 2002. During that time he also
served as a senior economist at the White House Council of Economic
Advisers from 1999-2000. Dr. Williams moved to the Federal Reserve Bank
of San Francisco in 2002 as a research advisor. He was named senior vice
president and advisor in 2004, and was promoted to executive vice
president and research director in 2009.
** Market News International Washington Bureau: 202-371-2121 **
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