N.Y. Fed Search Casts Wide Net But May Snare an Insider Instead
- San Francisco Fed chief John Williams a frontrunner for pick
- Pro-diversity Senate Democrats push back, demand hearings
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As the search to fill one of the Federal Reserve’s most important jobs enters its final stretch, it’s drawing intense scrutiny from city hall to Capitol Hill.
The Federal Reserve Bank of New York promised an open, diversity-focused process as it kicked off its search for a new president to succeed William Dudley. The search committee cast a wide net, interviewing women and minorities. Yet the process looks to favor a white male who already has seat at the policy-making table: The reported front-runner is John Williams, a 55-year-old economist who runs the Fed’s branch in San Francisco.