He wasn't one of the favorites. But Michael Moskow, named on Aug. 23 to take over as president of the Chicago Federal Reserve Bank, brings impressive credentials: Recently, Moskow has been teaching international management at Northwestern University's J.L. Kellogg Graduate School of Management. Before that, he served for two years as deputy U.S. Trade Representative. He also has business experience, having been a senior executive at Esmark and Northwest Industries. Moskow's influence will be felt soon: Next year, he becomes a voting member of the Federal Open Market Committee.

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