The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.
The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many international financial centers. Goldman Sachs is the second largest investment bank in the world by revenue and is ranked 55th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a systemically important financial institution by the Financial Stability Board.
Janet Louise Yellen is an American economist serving as the 78th United States secretary of the treasury since January 26, 2021. She previously served as the 15th chair of the Federal Reserve from 2014 to 2018. She is the first person to hold those positions having also led the White House Council of Economic Advisers and the first woman to hold either post.
Stephen Friedman is the former chairman of the US President's Intelligence Advisory Board. He was nominated on October 27, 2005, to replace Brent Scowcroft in the position.
Ben Shalom Bernanke is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Federal Reserve, he was appointed a distinguished fellow at the Brookings Institution. During his tenure as chairman, Bernanke oversaw the Federal Reserve's response to the late-2000s financial crisis, for which he was named the 2009 Time Person of the Year. Before becoming Federal Reserve chairman, Bernanke was a tenured professor at Princeton University and chaired the Department of Economics there from 1996 to September 2002, when he went on public service leave. Bernanke was awarded the 2022 Nobel Memorial Prize in Economic Sciences, jointly with Douglas Diamond and Philip H. Dybvig, "for research on banks and financial crises", more specifically for his analysis of the Great Depression.
The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for staggered 14-year terms. It is headquartered in the Eccles Building on Constitution Avenue, N.W. in Washington, D.C.
The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is responsible for the First District of the Federal Reserve, which covers New England: Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and all of Connecticut except Fairfield County. The code of the Bank is A1, meaning that dollar bills from this Bank will have the letter A on them. The Boston Fed describes its mission as promoting "growth and financial stability in New England and the nation". The Boston Fed also includes the New England Public Policy Center.
Gary David Cohn is an American businessman and philanthropist who served as the 11th Director of the National Economic Council and chief economic advisor to President Donald Trump from 2017 to 2018. He managed the administration's economic policy agenda. Before serving in the White House, Cohn was president and COO of Goldman Sachs, where he worked for more than 25 years. Cohn was appointed vice-chairman of IBM on January 5, 2021.
Edward Gerald Corrigan was an American banker who was the seventh President of the Federal Reserve Bank of New York and Vice-Chairman of the Federal Open Market Committee. Corrigan served as a partner and managing director in the Office of the Chairman at Goldman Sachs and was appointed chairman of GS Bank USA, the bank holding company of Goldman Sachs, in September 2008 until retiring in 2016. He was also a member of the Group of Thirty, an influential international body of leading financiers and academics.
Abby Joseph Cohen is an American economist and financial analyst on Wall Street. She is a professor of business at Columbia Business School. In 2001 she was named one of the 30 most powerful women in America by Ladies Home Journal, and she has been named as Barron's 100 most influential women in finance every year since the list's inception. She worked at Goldman Sachs for many years, working as the firm's Chief Investment Strategist prior to March 2007 and then leader of its Global Markets Institute, before retiring from this role in 2017.
Kevin Maxwell Warsh is an American financier and bank executive who served as a member of the Federal Reserve Board of Governors from 2006 to 2011.
Samuel Osiah Thier was professor of Medicine and Health Care Policy at Harvard University. He earned his medical degree at the State University of New York Upstate Medical University in 1960. He previously served as the president of Brandeis University from 1991–1994 and the president of the Massachusetts General Hospital from 1994-96.
William C. Dudley is an American economist who served as the president of Federal Reserve Bank of New York from 2009 to 2018 and as vice-chairman of the Federal Open Market Committee. 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.
Kathryn Mary Elizabeth Dominguez is a Professor of Public Policy and Economics at the University of Michigan and is a former nominee for the Governor of the U.S. Federal Reserve System.
Robert Steven Kaplan was most recently the president and CEO of the Federal Reserve Bank of Dallas and is a former long-time Goldman Sachs executive.
Raphael W. Bostic is an American economist, academic, and public servant who has served as the 15th president and CEO of the Federal Reserve Bank of Atlanta since 2017. During his academic career, Bostic served as chair of the Department of Governance, Management, and the Policy Process at the Price School of Public Policy at the University of Southern California.
Susan M. Collins is an American economist who has served as the 14th president and CEO of the Federal Reserve Bank of Boston since July 1, 2022. She is the first African American woman and first woman of color to lead any of the 12 regional Federal Reserve Banks. Collins previously served as the 16th provost and executive vice president for academic affairs of the University of Michigan from 2020 to 2022.
Steven Strongin is a Senior Advisor at Goldman Sachs. Previously, he was the head of Global Investment Research and chair of the Global Markets Institute at Goldman Sachs. He was a member of the Management Committee, Firmwide Client and Business Standards Committee and was also co-chair of the Firmwide Technology Risk Committee. Strongin's writing on economic policy, investing and financial trends is featured across many news sources including The Wall Street Journal, Bloomberg News, and Business Insider. His article, “Beating Benchmarks,” won the Second Annual Bernstein Fabozzi/Jacobs Levy Award for Outstanding Article after it was published in the Journal of Portfolio Management. He holds three patents for financial instruments. One of his patents was the Wavefront system, which describes how economic shocks ripple through the economy into company performance, market value and equity returns in the US market.
Julie Ann Remache is an American economist who currently works as selected deputy SOMA manager at the Federal Reserve of New York. Remache has worked at the Federal Reserve of New York since 2000, where she held several positions before being promoted to Senior VP in February 2015. She briefly worked in the private sector between 2008-2009, but returned to the Federal Reserve in January 2009 as Director for Portfolio Analytics. In this position, Remache was part of a team responsible for buying $1.25 trillion of mortgage-backed securities (MBS) as part of the Federal Reserve's MBS purchase program during the 2007-2009 financial crisis.
