S.F. Fed chief John Williams chosen to head powerful New York Fed
The Federal Reserve’s top official on the West Coast has been chosen to head its powerful New York regional bank, a controversial choice because he helped regulate Wells Fargo & Co. during its fake-accounts scandal and is another white man at an institution that critics complain sorely lacks diversity.
John Williams, an economist who has been president of the Federal Reserve Bank of San Francisco since 2011, was announced Tuesday as the next president of the Federal Reserve Bank of New York. The selection was made by the bank’s board of directors and approved by the Fed’s Board of Governors in Washington.
The choice does not need Senate confirmation.