Elizabeth Morgan Hammack (born 1971/1972) is the 12th president and CEO of the Federal Reserve Bank of Cleveland.[1][2] Prior to that, Hammack worked at Goldman Sachs for three decades before resigning in 2024 as the co-head of global finance.
Hammack earned a bachelor's degree from Stanford University in 1993 with a combined major in quantitative economics and history.[7][8] During her academic career, Hammack was part of a council of student presidents at Stanford that included John Louie, who played the Wing Kid in the 1984 film Gremlins and John Overdeck, co-founder and co-chairman of Two Sigma Investments.[6] She interned twice at the Philadelphia Stock Exchange during her summer breaks. Hammack was accepted to Harvard Business School but decided not to attend.[6]
Goldman Sachs
She joined Goldman Sachs in 1993 as an analyst in Debt Capital Markets, was named managing director in 2003, and partner in 2010.[7][9] Throughout her time, she held roles as global treasurer, global head of short-term macro trading, and global head of repo trading.[10] Hammack was former chair of the Treasury Borrowing Advisory Committee; and a former member of the Treasury Market Practices Group, the Financial Research Advisory Committee, and management committee.[10][11][12]
Before her departure, Hammack served as the co-head of the Global Financing Group.[7]
Federal Reserve Bank of Cleveland
On May 29, 2024, it was announced that Hammack was appointed as the next president and chief executive officer of the Cleveland Fed.[12][13] Hammack's term began on August 21, and in this role, she will represent the Fourth Federal Reserve District on the Federal Open Market Committee in the formulation of US monetary policy.[1][12] She is the fourth woman selected to lead the Federal Reserve Bank of Cleveland, the first regional Federal Reserve bank to appoint a female president in 1982.[14]
Personal life
Hammack married investment banker Peter Hammack in 2000.[3] The couple has two sons and live in Cleveland.[15][2]
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