William Dudley was appointed president of the Federal Reserve Bank of New York, spokesman Andrew Williams said.
The New York Fed board approved Mr. Dudley’s nomination Monday night, after President Timothy Geithner was confirmed as Treasury secretary late Monday. The Fed system includes the seven-member Fed board, a government entity, and 12 semiprivate regional Fed banks.
Mr. Dudley, an economist and market expert, joined the New York Fed, the trading arm of the Fed System, in 2007 as executive vice president of the markets group, overseeing U.S. open market and foreign exchange operations. The New York Fed also services accounts that foreign central banks maintain with the Fed.
Before joining the Fed, Mr. Dudley was managing director and chief economist at Goldman, Sachs & Co. in New York. From 1981 to 1983, he worked as an economist at the Federal Reserve Board in Washington.
