New President at the Dallas Fed

DALLAS—The Federal Reserve Bank of Dallas today announced the appointment of Robert Steven Kaplan as president and chief executive officer. In this role, Kaplan will represent the Eleventh Federal Reserve District on the Federal Open Market Committee in the formulation of U.S. monetary policy and will oversee the 1,200 employees of the Dallas Fed.

His appointment is effective September 8, 2015.

Kaplan, 58, is the Martin Marshall Professor of Management Practice and a Senior Associate Dean at Harvard Business School. He is also co-chairman of the Draper Richards Kaplan Foundation, a global venture philanthropy firm that invests in developing non-profit enterprises dedicated to addressing social issues.

Kaplan was appointed by eligible members of the Dallas Fed board of directors and approved by the Board of Governors of the Federal Reserve System. He succeeds Richard W. Fisher, who retired from the Dallas Fed in March 2015.

The Bank’s search committee considered a broad pool of excellent candidates to ensure we met our goal of finding someone who has a deep understanding of the economy, financial system and monetary policy—yet who also sincerely appreciates the impact decisions made by the Federal Reserve have on people from all walks of life,” said Dallas Fed board chair Renu Khator, chancellor of the University of Houston.

“I believe we found that person in Robert Steven Kaplan.  He has had distinguished careers in business and academia, and has the right combination of leadership skills, business experience and public-service mindset.  Rob is committed to improving the economy for all Americans.”

His predecessor worked diligently to worsen it!

3 thoughts on “New President at the Dallas Fed

  1. I heard about the appointment this morning on the radio. What troubled me was Kaplan’s association with Goldman. Why can’t they just dig up some (Market Monetarist) academic to be head at the Dallas Fed?

  2. Still, Market Monetarists have suffered a loss. We always knew how to invest—the opposite of whatever Fisher was saying. As long as Fisher professed growing fears of runaway inflation, we knew it was safe to go long on bonds.

    Now, what we will do?

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