Lorie K. Logan, a longtime veteran of the Federal Reserve Bank of New York, wants to be the next leader of the Federal Reserve Bank of Dallas.
Ms. Logan will start in August, filling a role that was vacated in October 2021 when Robert S. Kaplan resigned from office among the consequences of a commercial scandal. Mr. Kaplan had been actively trading stocks and other assets in 2020 when the Fed was intervening in the markets.
Her appointment to work will give her a say in monetary policy decisions and put her in charge of an institution that employs 1,200 people. Dallas is one of the Fed’s 12 regional reserve banks, and bank presidents rotate in and out of four voting positions. The New York Fed and the seven Washington-based Fed governors are constantly voting on interest rates.
Ms. Logan has worked at the Fed since 1999, most recently as head of the Fed’s securities portfolio. She reduced her maternity leave to work on the response to the 2008 financial crisis and played a key role in information and implementation. of the central bank’s emergency programs as markets collapsed at the start of the coronavirus pandemic in 2020.
“We will continue to benefit from his analytical rigor, his sharp insights and his common sense,” said Jerome H. Powell, Fed chairman, in the statement announcing Ms. Logan’s appointment.
Ms. Logan is originally from Versailles, Ky., And holds a BA in political science from Davidson College and a master’s in public administration from Columbia University.
Regional Fed presidents are selected by their reserve bank board of directors, excluding bank representatives, and are approved by Fed governors in Washington.
The next time Ms. Logan will vote on monetary policy in 2023.