People on the Move: Patrick Harker, Federal Reserve Bank of Philadelphia
The board of directors of the Federal Reserve Bank of Philadelphia has announced that Patrick Harker will assume the role of president and CEO, effective July 1, 2015. Currently president of the University of Delaware and a member of the Philadelphia Fed’s board of directors, Harker in his new role will participate on the Federal Open Market Committee in the formulation of U.S. monetary policy and will oversee the 900 employees of the Philadelphia Fed. The appointment was jointly approved by eligible directors of the Philadelphia Fed’s board of directors, all nonbankers by law, and the Board of Governors of the Federal Reserve System in Washington, D.C. Harker will succeed Charles Plosser, who retired effective March 1, 2015.
