New York Fed’s Dudley Said Likely to Be Reappointed by March

Feb. 10 (Bloomberg) -- Federal Reserve Bank of New York President William Dudley is likely to be reappointed to a five-year term, according to a person familiar with the matter.

Dudley, 58, was named New York Fed President in January 2009 to finish the term of his predecessor, Timothy F. Geithner, who became Treasury Secretary. Dudley is likely to be appointed by March 1, said the person, who declined to be identified because the decision hasn’t been made public.

The board of the New York Fed appoints presidents of the bank to five-year terms, subject to approval by the Board of Governors in Washington. The terms commence on March 1, according to the New York Fed’s website.

Michelle Smith, a spokeswoman for the Board of Governors in Washington, declined to comment.

The Wall Street Journal earlier reported Dudley’s probable reappointment.

To contact the reporter on this story: Caroline Salas in New York at csalas1@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net