N.Y. Fed Makes the Rounds In Its Search for Next Chief

The Bond Buyer - - Market News -

It may be the trick­i­est job to fill in cen­tral bank­ing. And as the Fed­eral Re­serve Bank of New York search com­mit­tee casts a wide net to find a re­place­ment for its out­go­ing pres­i­dent, Wil­liam Dud­ley, the wish list is get­ting long.

In­ter­views with 10 mem­bers of the Fed’s ad­vi­sory boards, which the com­mit­tee is con­sult­ing, sug­gest they want a pres­i­dent with mar­ket ex­per­tise, cri­sis-man­age­ment chops, strong lead­er­ship abil­i­ties, an eye on in­equal­ity and an ear for re­gional trends.

The com­mit­tee hasn’t pub­li­cized a long list, but Peter Blair Henry — out­go­ing dean of New York Univer­sity’s Stern School of Business — has been sug­gested, ac­cord­ing to ad­vi­sory board mem­bers. New York Fed insider Si­mon Pot­ter, who runs its mar­kets group, Brian Sack, who pre­vi­ously held that po­si­tion, and for­mer se­nior Fed Board staffer Nel­lie Liang have also been dis­cussed as po­ten­tial can­di­dates.

In ad­di­tion, for­mer Trea­sury econ­o­mist Karen Dy­nan has been floated, as has North­west­ern Univer­sity econ­o­mist Jan­ice Eberly, JPMor­gan Chase & Co.’s San­dra O’Con­nor, and UBS Se­cu­ri­ties econ­o­mist Seth Car­pen­ter.

The New York Fed says on its web­site the process is ex­pected to take six to nine months. Dud­ley plans to re­tire in mid2018.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.