Fed Reappoints Reserve Bank Leaders for New Five-Year Terms

The Federal Reserve Board has announced the reappointment of Federal Reserve Bank presidents and first vice presidents, following a comprehensive review that began in December 2024. The process assessed each leader’s work with local business, financial and non-profit communities, their management the Bank’s strategy and staff, and their leadership contributions to the Federal Reserve System. First vice presidents were largely evaluated on how well they managed both local Reserve Bank operations and Federal Reserve System initiatives. A wide range of business and community leaders across each district were sought before the Board gave a unanimous approval. The reappointed leaders will serve five-year terms, starting March 1, 2026. The reappointed leaders include Susan M. Collins in Boston, John C. Williams in New York, Anna Paulson in Philadelphia, Beth M. Hammack in Cleveland and Mary C. Daly in San Francisco. Raphael W. Bostic will retire as president of the Federal Reserve Bank of Atlanta, and Shonda S. Clay will become Chicago’s new first vice president next year.