Anna Paulson to Lead Philadelphia Fed, First Woman in Role

The Federal Reserve Bank of Philadelphia has announced that Anna Paulson, currently the research director at the Chicago Fed, will assume the role of president of the Philadelphia Fed. Paulson will succeed Patrick Harker, who is set to step down on June 30. Upon taking office on July 1, Paulson will make history as the first woman to lead the Philadelphia Fed.

Paulson's appointment comes at a pivotal time for the Federal Reserve, as she will join the Federal Open Market Committee (FOMC) with voting rights starting next year. However, she will begin attending and participating in FOMC meetings immediately upon her appointment. This transition marks a significant milestone for the Federal Reserve System, highlighting the institution's commitment to diversity and inclusion at the highest levels of leadership.

Paulson's extensive experience in economic research and policy analysis will be invaluable as she navigates the complexities of monetary policy and financial regulation. Her leadership is expected to bring a fresh perspective to the FOMC, contributing to the ongoing efforts to maintain economic stability and promote growth. The appointment of Paulson as the first female president of the Philadelphia Fed is a testament to the progress made in gender equality within the Federal Reserve System.

Her tenure is anticipated to foster a more inclusive and representative approach to monetary policy, reflecting the diverse needs and perspectives of the American public. Paulson, who is 60 years old, joined the Chicago Fed as an economist in 2001 and became the research director in 2019. Her research areas include banking, financial markets, macroeconomics, and regional economics.

“For two decades, Anna has demonstrated a steadfast commitment to the Federal Reserve's dual mandate of achieving stable prices and maximum employment,” said Anthony Ibargüen, chairman of the Philadelphia Fed's board of directors and selection committee, in a statement. “Her broad technical expertise and mission-driven focus will be a tremendous asset to the Philadelphia Fed and the communities it serves.”

The Philadelphia Fed began its nationwide search for Harker's successor in September of last year. Paulson's appointment underscores the Federal Reserve's ongoing efforts to promote diversity and inclusion within its leadership ranks, ensuring that the institution remains responsive to the evolving needs of the economy and society.