This version corrects a prior version’s description of Robert Kaplan’s departure from the Dallas Fed.
The Dallas Fed announced Wednesday that it has appointed Lorie Logan, a top Fed staffer, as its president and chief executive.
Logan, 49, is currently an executive vice president at the New York Fed. She is the manager of the System Open Market Account of the FOMC, where she oversaw the central bank’s $9 trillion securities portfolio. She led analysis of global financial market developments and routinely briefed top officials at their interest-rate committee meetings.
“Lorie understands how our nation’s current economic challenges and the Fed’s actions impact all Americans, and will work toward a stronger economy for all,” said Thomas Falk and Claudia Aguirre, who co-chaired the Dallas Fed’s search committee.
In a statement, Fed Chairman Jerome Powell called Logan “a trusted colleague” with “remarkable skill.”
Logan will take up her role in late August.
She will replace Robert Kaplan, who retired last October in the wake of Wall Street Journal stories that he actively traded for his own benefit during the early days of the 2020 pandemic as the Fed scrambled to avoid a financial panic and soften the blow of a steep recession.
In a statement, Logan said she was excited about moving to Texas and becoming involved in the community. She said she would represent “all the hard-working people” of the Dallas Fed district, which includes Texas, northern Louisiana and southern New Mexico.