The Federal Reserve recently announced the reappointment of leaders at various regional Reserve Banks. After careful evaluations by the boards of directors, the vote was unanimous.
Each president and first vice president serves a five-year term. Their current terms end on February 28, 2026. To decide on reappointments, boards began assessing their leaders in December 2024. They looked at several key areas:
- How well the president connects with local business and community groups.
- The effectiveness of their leadership in shaping the Reserve Bank’s strategy.
- Their contribution to the Federal Reserve System as a whole.
First vice presidents were mainly judged on their management of operations at their respective Reserve Banks.
Boards sought feedback from various stakeholders, including civic leaders, to inform their decisions. This input was crucial for the final evaluations made by the Federal Reserve Board.
The new term starts on March 1, 2026. Here’s a quick list of who will serve in these key roles:
- Boston: Susan M. Collins (president); Karen A. Pennell (first vice president)
- New York: John C. Williams (president); Sushmita Shukla (first vice president)
- Philadelphia: Anna Paulson (president); Jeanne R. Rentezelas (first vice president)
- Cleveland: Beth M. Hammack (president); Mark S. Meder (first vice president)
- Richmond: Thomas I. Barkin (president); Becky C. Bareford (first vice president)
- Atlanta: Cheryl L. Venable (first vice president)
- Chicago: Austan D. Goolsbee (president)
- St. Louis: Alberto Musalem (president); François G. Henriquez, II (first vice president)
- Minneapolis: Neel T. Kashkari (president); Ron J. Feldman (first vice president)
- Kansas City: Jeffrey R. Schmid (president); Kimberly N. Robbins (first vice president)
- Dallas: Lorie K. Logan (president); Robert L. Triplett, III (first vice president)
- San Francisco: Mary C. Daly (president); Sarah E. Devany (first vice president)
Notably, Raphael W. Bostic plans to retire from his role as president of the Federal Reserve Bank of Atlanta at the end of his term. Meanwhile, Shonda S. Clay is set to step in as first vice president of the Federal Reserve Bank of Chicago starting March 1, 2026, following Ellen Bromagen’s retirement.
This reappointment process highlights an important aspect of governance in financial institutions. It shows how feedback from community leaders can play a role in shaping the leadership that guides the economy. Overall, the Federal Reserve remains pivotal in addressing economic challenges, ensuring that local insights contribute to national financial stability.
For more details on the Federal Reserve’s structure and its role in the economy, you can visit the official [Federal Reserve website](https://www.federalreserve.gov).
