Lorie K. Logan, a longtime veteran of the Federal Reserve Bank of New York, will become the next president of the Federal Reserve Bank of Dallas.
Logan will fill the vacant position in August 2021 when Robert S. Kaplan resigned in the wake of the trade scandal in October 2021. Kaplan actively traded stocks and other assets in 2020 when the Fed intervenes in the market.
Her appointment will give her a rotating voice over monetary policy decisions and head the agency, which employs 1,200 people. Dallas is one of 12 regional reserve banks in the Fed system, and the bank governor rotates in four voting positions. The New York Fed and its seven Washington-based governors cast a fixed vote on interest rates.
Logan has been with the Fed since 1999, most recently as the Fed’s Director of Securities Portfolio. She shortened maternity leave in response to the 2008 financial crisis and played a key role in signaling and executing the central bank’s emergency programs when markets crashed with the onset of the 2020 coronavirus pandemic.
Fed Chairman Jerome H. Powell said in a statement announcing Logan’s appointment, “We will continue to benefit from her analytical rigor, keen insight and good judgment.”
Logan is originally from Versailles, Kentucky, and holds a degree in political science from Davidson College and a master’s degree in public administration from Columbia University.
Regional Fed Governors are elected by the Board of the Reserve Bank, excluding bank representatives, and are approved by the Federal Reserve Governor in Washington.
Logan will have his next vote on monetary policy in 2023.