The Federal Reserve Bank of Dallas this week announced the appointment of Lorie K. Logan as president and CEO.
Logan will represent the Eleventh Federal Reserve District on the Federal Open Market Committee in the formulation of U.S. monetary policy and will lead the 1,200 employees of the Dallas Fed.
She will assume her role on August 22.
Logan, 49, currently serves as manager of the System Open Market Account for the FOMC, where she oversees the System’s $9 trillion securities portfolio and leads the implementation of monetary policy as directed by the FOMC.
Logan also serves as executive vice president of the Federal Reserve Bank of New York, where she has led Market Operations, Monitoring and Analysis since 2012. In that role, she oversees policy implementation, provision of fiscal agent services to the U.S. Treasury Department in support of debt issuance and foreign exchange operations, analysis of global financial market developments and production of the New York Fed's reference rates, including the new Secured Overnight Financing Rate.
She represents the Federal Reserve on the Markets Committee at the Bank for International Settlements and oversees several public-private sector committees that are sponsored by the New York Fed to engage with market participants on key issues and advance financial industry best practices.
“Lorie is a trusted colleague and dedicated public servant whose remarkable skill and experience with complex financial markets has informed our decisions and helped implement monetary policy to support the U.S. economy,” says Fed chairman Jerome Powell in a statement. “I look forward to working with her in this new role leading the Federal Reserve Bank of Dallas, where we will continue to benefit from her analytical rigor, keen insights and good judgment.”
Logan was selected through a presidential search committee based in Dallas led by Thomas J. Falk and Claudia Aguirre. She succeeds Robert Kaplan, who retired in October. Meredith Black, former first vice president, had been serving as interim president.
The Dallas Fed serves the Eleventh Federal Reserve District, which encompasses Texas, northern Louisiana, and southern New Mexico. As part of the nation’s central banking system, the Dallas Fed participates in setting monetary policy, supervises and regulates numerous financial institutions, and provides financial services to depository institutions and the U.S. government.
The Dallas Fed has branches in Houston, San Antonio, and El Paso.
Logan played a prominent role in the development and implementation of the Federal Reserve's actions in response to the COVID-19 pandemic. This included being responsible for managing several facilities to support market functioning and the flow of credit to households and businesses. She drew on her experience during the financial crisis, during which she was a crucial leader in efforts regarding the expansion of the Federal Reserve's balance sheet and the creation of liquidity facilities to mitigate systemic risks to the financial system.
She is a native of Versailles, Kentucky, and holds a bachelor's degree in political science from Davidson College and a master's degree in public administration from Columbia University.
“I look forward to engaging with business and community leaders across the Eleventh District and representing all of the hard-working people of the district at the FOMC,” Logan says. “I am excited about moving to Texas and becoming involved in the community.”