Wall Street’s eyes are on the Federal Reserve, and what happens with well-regarded chair Jay Powell now that President Trump is trying to push him out.
No such dramatics are playing out here in Boston, where a new chair for the Federal Reserve Bank of Boston was named, and new members added to the board of directors, without controversy.
Lizanne Kindler, chief executive of apparel retailer KnitWell Group, was designated the new Boston Fed board chair as of Jan. 1. Liberty Mutual chief executive Tim Sweeney, Hannaford president Mike Vail, and New Balance chief executive Joe Preston all joined the nine-member board for the first time, while MassMutual’s Roger Crandall and Kimberly Sherman Stamler, of development firm Related Beal, cycled off.
The Boston Fed’s board holds eight regular meetings a year, along with regular calls to discuss rate recommendations. Aside from their oversight functions, board members offer important economic information to Boston Fed chief executive Susan Collins and the entire Federal Reserve system and an important link between the Fed and the private sector — all while trying to avoid the kinds of headlines that trail Powell and Trump.
This is an installment of our weekly Bold Types column about the movers and shakers on Boston’s business scene.
Jon Chesto can be reached at jon.chesto@globe.com. Follow him @jonchesto.
