The Dallas Fed's board of directors is undertaking a search for a new Reserve Bank president. As set forth by law in the Federal Reserve Act, the president is appointed by a search committee composed of the Dallas Fed’s Class B and C Directors (those elected or appointed to represent the public), subject to the approval of the Federal Reserve Board of Governors.
The committee will consider candidates within and outside the Federal Reserve System. The committee’s priority is to consider a broad and highly qualified candidate pool that reflects the diversity of the communities we serve in the Eleventh District.
The search committee welcomes the public to submit potential candidates for consideration.
About Our District
The Dallas Fed promotes a strong financial system and healthy economy in the Eleventh Federal Reserve District, which includes Texas, northern Louisiana and southern New Mexico. Through our offices in Dallas, El Paso, Houston and San Antonio, we work for and with the people of our district to build an economy that works for everyone.
- The Eleventh Federal Reserve district is home to 50 Fortune 500 companies, 49 of those being headquartered in Texas.
- Texas, the major economic driver in the Eleventh District, produces 9 percent of U.S. GDP, second only to California.
- Texas is the number one exporting state in the country, mainly driven by the prominent oil and natural gas sector.
- Not only is Texas the number one producer of oil and natural gas in the U.S., but it contains approximately 30% of U.S. refinery capacity and 75% of U.S. petrochemical production.
- Texas is younger and faster growing than the nation and boasts a large and diverse workforce made up of 14 million workers.
Specific qualifications are required for this role.Ideal experience includes:
- Respected credentials in macroeconomics or recognized/demonstrated stature in a field that contributes information vital to monetary policymaking
- International business, government, banking or economic experience
- 20+ years of experience including a proven track record of executive leadership
- Demonstrated ability to shape and drive positive organizational culture, leadership, talent and diversity equity and inclusion practices
- Familiarity with the Federal Reserve System and/or prior public policy experience
- History of active community participation and civic leadership both locally and nationally
- Advanced degree in economics or finance preferred
- Ability and agreement to undergo a detailed personal and financial background review process
You may apply for the position or submit a qualified candidate via email . In your submission, include:
Learn more about how Federal Reserve Bank presidents are selected, and the roles and responsibilities of the Banks and their leaders, in this short video:
Frequently Asked Questions
The president serves as the chief executive officer for the organization. Responsibilities include setting the strategic vision for the Bank, ensuring an efficient operation of the organization, achieving the Bank’s objectives and being responsible for all Bank activities.
The president also represents the Dallas Fed in engaging with all of our core constituencies, acting as a conduit of the Bank’s key messages to members of the public.
The president also plays a critical role in the formation of U.S. monetary policy by representing the Eleventh Federal Reserve District on the Federal Open Market Committee, the Federal Reserve’s chief policymaking body.
The job description posted on our website covers the responsibilities and attributes the Search Committee is seeking for the next president of the Bank. In addition, the Board of Governors website describes the responsibilities of Reserve Bank presidents and notes the characteristics of ideal candidates. These include:
- Guiding the Bank’s economic research and gathering economic intelligence
- Providing insights to Federal Open Market Committee policy discussions
- Communicating clearly about monetary policy
- Being a strong chief executive officer of the Bank
- Ensuring the Bank maintains an effective system of bank supervision by faithfully carrying out its delegated authority from the Board of Governors
- Making strong personal contributions to matters requiring collective System action or direction.
The president of a Federal Reserve Bank is appointed for a five-year term. The terms of all the presidents of the 12 District Banks run concurrently and end on the last day of February of years numbered 1 and 6 (for example, 2021 and 2026). The appointment of a president who takes office after a term has begun ends upon the completion of that term. A president of a Reserve Bank may be reappointed after serving a full term or an incomplete term.
Reserve Bank presidents are subject to mandatory retirement at age 65. However, presidents initially appointed after age 55 can, at the option of the board of directors, be permitted to serve until attaining 10 years of service in the office or until age 75, whichever comes first.
The Dallas Fed’s former First Vice President and Chief Operating Officer Meredith Black has assumed the duties of interim president. In accordance with the Federal Reserve Act, Black will conduct these duties until a new bank president is appointed.
As set forth by law in the Federal Reserve Act, the president is appointed by the Dallas Fed’s Class B and C Directors (those elected or appointed to represent the public), subject to the approval of the Federal Reserve Board of Governors.
To conduct the search, the Dallas Fed’s board of directors has formed a search committee composed of Class B and C directors. That committee will hire a search firm to help identify a broad, diverse, highly qualified candidate pool. The committee will consider a large, nationwide pool of candidates, both within and outside the Federal Reserve System, who meet the position’s qualifications.
The search committee welcomes the public to submit potential candidates for consideration. Anyone who wishes to be considered for the position or formally nominate someone should communicate directly with Egon Zehnder at email@example.com
There is no timeline for selecting a Federal Reserve President. The hiring committee’s priority is to consider a broad and highly qualified candidate pool that reflects the diversity of the communities we serve in the Eleventh District. The committee will follow the appropriate process to hire the most capable president and CEO to lead the Dallas Fed and will spend as much time as needed to achieve that goal.
The information contained in these FAQs outline the hiring process. The Search Committee plans to maintain their focus on working with the search firm to hire the best candidate to lead the Federal Reserve Bank of Dallas. Once a candidate has been appointed, the Federal Reserve Bank of Dallas will make a public announcement at that time.