St. Louis Fed names Alberto G. Musalem as new president.
Source: St. Louis Federal Reserve
Economist Alberto Musalem was named the following president and CEO of the Federal Reserve Bank of St. Louis on Thursday.
Musalem, 55, will begin on April 2. He replaces James Bullard, who joined Purdue University final August. The St. Louis Fed consultant is an alternate member of the rate-setting Federal Open Market Committee and can vote in 2025. St. Louis Fed First Vice President Kathy O’Neill has been holding the place within the interim.
“Alberto will be an outstanding president and CEO of the St. Louis Fed,” stated St. Louis Fed Director Carolyn Chism Hardy, president and CEO of Chism Hardy Investments and deputy chair of the financial institution’s search committee.
Hardy cited Musalem’s expertise as an economist and in monetary markets in addition to his in depth background with the Fed.
In his most up-to-date work, he served as co-chief funding officer and was co-founder of Evince Asset Management. Prior to that, he was govt vp and senior advisor to the New York Fed.
In addition, he has monetary market expertise at Tudor Investment Corp., working with the agency’s founder, Wall Street titan Paul Tudor Jones.
“Alberto is a mission-focused leader, and I am confident he will work tirelessly to promote a healthy economy for all in representing the diverse views of the constituents across the Fed’s Eighth District,” Hardy stated.
Musalem involves the St. Louis Fed at a time when the central financial institution is at what seems to be an vital coverage pivot, away from inflation-fighting rate of interest hikes and in direction of a normalization of coverage and sure charge cuts forward. However, the trajectory of how that may occur is unsure as Fed officers have vowed to be knowledge dependent and are holding open the chance that charges might must go up extra if the inflation knowledge strikes the opposite approach.
“I am deeply honored to serve as the next president of the St. Louis Fed and grateful for the opportunity to promote a strong, resilient and inclusive economy,” Musalem stated.
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