World Library  
Flag as Inappropriate
Email this Article
 

William C. Dudley

William C. Dudley
10th President of the Federal Reserve Bank of New York
Incumbent
Assumed office
January 27, 2009
Preceded by Timothy F. Geithner
Personal details
Spouse(s) Ann E. Darby
Alma mater New College of Florida,
University of California, Berkeley
Occupation Economist

William C. Dudley (born 1952)[1] is the president of Federal Reserve Bank of New York and vice-chairman of the Federal Open Market Committee.[2][3] He was appointed to the position on January 27, 2009, following the confirmation of his predecessor, Timothy F. Geithner, as United States Secretary of the Treasury.

Contents

  • Education 1
  • Career 2
  • Economic views 3
  • References 4
  • Further reading 5

Education

Dudley earned a B.A. degree from New College in 1974, and a PhD in economics from the University of California, Berkeley in 1982.[3][4]

Career

Dudley worked at Goldman Sachs from 1986 to 2007, holding the position of chief economist for ten years before he was hired by then-president of the New York Federal Reserve Timothy Geithner to oversee the department in charge of buying and selling government securities.[5][6] According to salary figures released in 2010, Dudley is paid "more than $410,000 per year", making him one of the two highest-paid of the twelve presidents of the Federal Reserve Banks.[7]

He is member in the Group of Thirty.

Economic views

In 2002, Dudley wrote that the Federal Reserve should have "tightened policy earlier and more aggressively during the 1996-1999 period", with the hope that the downward forces would not have been so intense after the collapse of the stock market that began in 2000.[8]

Dudley was criticized for remarks over food inflation in 2011 when he argued that you have to look at all prices when looking at inflation. He noted that some prices like the iPad were effectively falling as the next generation was twice as powerful at the same price. A member of the crowd shouted "I can't eat an iPad".[9]

References

  1. ^ Who's Who In America - 2010 (64th ed.).  
  2. ^ "New York Fed Names William C. Dudley President". 2009-01-27. Retrieved 2009-01-27. 
  3. ^ a b "William C. Dudley".  
  4. ^ Kristina Cooke (2009-01-27). "Dudley to succeed Geithner to head New York Fed".  
  5. ^ Neil Irwin (2009-01-27). "Dudley Will Replace Geithner at New York Fed".  
  6. ^ Creswell, Julie and Ben White (2008-10-19). "The Guys From 'Government Sachs'".  
  7. ^ Reddy, Sudeep (May 25, 2010). "Local Fed Chiefs Outearn Bernanke".  
  8. ^ William C. Dudley (2002-07-22). "Economic beat: Bubble trouble for the Federal Reserve" 82 (29).  
  9. ^ "'I Can't Eat an iPad'".  

Further reading

  • Dudley Brings Crisis Experience to New York Fed Job, Bloomberg, 27 Jan 2009.
Civic offices
Preceded by
Timothy F. Geithner
President of the Federal Reserve Bank of New York
2009–present
Succeeded by
incumbent
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.