Information Releases

Logan Presently Leads the Fed’s Implementation of Financial Coverage on the New York Fed

Might 11, 2022

DALLAS—The Federal Reserve Financial institution of Dallas immediately introduced the appointment of Lorie Ok. Logan as president and chief govt officer.

On this position, Logan will signify the Eleventh Federal Reserve District on the Federal Open Market Committee within the formulation of U.S. financial coverage and can lead the 1,200 workers of the Dallas Fed.

She will start her position as president on August 22, 2022.

Logan, 49, at the moment serves as supervisor of the System Open Market Account for the FOMC, the place she oversees the System’s $9 trillion securities portfolio and leads the implementation of financial coverage as directed by the FOMC.

Logan additionally serves as govt vice chairman of the Federal Reserve Financial institution of New York, the place she has led Market Operations, Monitoring and Evaluation since 2012. In that position, she oversees coverage implementation, provision of fiscal agent companies to the U.S. Treasury Division in assist of debt issuance and overseas change operations, evaluation of world monetary market developments and manufacturing of the New York Fed’s reference charges, together with the brand new Secured In a single day Financing Charge.

She represents the Federal Reserve on the Markets Committee on the Financial institution for Worldwide Settlements and oversees a number of public-private sector committees which are sponsored by the New York Fed to interact with market contributors on key points and advance monetary trade finest practices.

Assertion from Thomas J. Falk and Claudia Aguirre, Co-Chairs, Federal Reserve Financial institution of Dallas Presidential Search Committee

“The search committee sought to discover a president to signify the Eleventh District on the FOMC, handle a big complicated financial institution and perceive the financial points and desires of the residents of Texas, northern Louisiana and southern New Mexico.

“We discovered all of that and extra in Lorie Logan. She has been a profitable chief of the Markets Group on the New York Fed, and her deep monetary markets background and experience in financial coverage and the monetary system make her nicely certified to contribute in a significant technique to the financial coverage problems with the FOMC.

“Lorie understands how our nation’s present financial challenges and the Fed’s actions influence all People, and can work towards a stronger financial system for all.

“Our committee carried out a nationwide search and recognized a various pool of excellent candidates from a wide range of backgrounds and professions. Lorie is a seasoned chief, who will convey a wealth of expertise main complicated companies and managing multi-functional groups. We’re excited to see the constructive influence Lorie could have on the Dallas Fed and the Eleventh District.”

Assertion from Jerome Powell, Chair, Federal Reserve System Board of Governors

“Lorie is a trusted colleague and devoted public servant whose exceptional ability and expertise with complicated monetary markets has knowledgeable our choices and helped implement financial coverage to assist the U.S. financial system. I stay up for working along with her on this new position main the Federal Reserve Financial institution of Dallas, the place we’ll proceed to profit from her analytical rigor, eager insights and common sense.”

Assertion from Lorie Ok. Logan

“All through my profession, I’ve been pushed by a dedication to public service. I consider strongly within the Federal Reserve’s mission and within the crucial position it performs in selling a wholesome financial system that really works for everybody.

“I stay up for partaking with enterprise and group leaders throughout the Eleventh District and representing the entire hard-working individuals of the district on the FOMC. I’m enthusiastic about transferring to Texas and changing into concerned locally.”

Logan performed a distinguished position within the improvement and implementation of the Federal Reserve’s actions in response to the COVID-19 pandemic. This included being accountable for managing a number of amenities to assist market functioning and the movement of credit score to households and companies. She drew on her expertise through the Nice Monetary Disaster, throughout which she was a vital chief in efforts relating to the enlargement of the Federal Reserve’s stability sheet and the creation of liquidity amenities to mitigate systemic dangers to the monetary system.

She is a local of Versailles, Kentucky, and holds a bachelor’s diploma in political science from Davidson Faculty and a grasp’s diploma in public administration from Columbia College.

Logan will exchange Robert S. Kaplan, who retired from the Financial institution on October 8, 2021. Former First Vice President Meredith Black has been serving as interim president and can retire from the Dallas Ate up September 1, 2022, following 39 years of service.

For extra details about the Dallas Fed’s search course of, go to the Financial institution’s presidential search webpage.

In regards to the Dallas Fed

The Dallas Fed serves the Eleventh Federal Reserve District, which encompasses Texas, northern Louisiana and southern New Mexico. As a part of the nation’s central banking system, the Dallas Fed participates in setting financial coverage, supervises and regulates quite a few monetary establishments, and supplies monetary companies to depository establishments and the U.S. authorities.

The Dallas Fed has branches in Houston, San Antonio and El Paso.

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Media contact:
James Hoard
Federal Reserve Financial institution of Dallas
Telephone: (214) 922-5307
E-mail: james.hoard@dal.frb.org