Federal Reserve Announces 2026 Chairs and Deputy Chairs

The Federal Reserve Board on Friday announced the designation of the chairs and deputy chairs of the 12 Federal Reserve Banks for 2026. This announcement marks an important milestone in the governance structure of the Federal Reserve System, which is the central bank of the United States.

Background

The Federal Reserve System was established in 1913 to provide a safer and more stable financial system. The system consists of 12 regional Federal Reserve Banks, each responsible for a specific geographic area. Each Reserve Bank has a nine-member board of directors, which oversees the local banking operations and makes decisions on monetary policy.

Designation Process

The chairs and deputy chairs of the Federal Reserve Banks are designated through a formal process established by the Federal Reserve Board. The selection process involves a review of candidates from each Reserve Bank, with the final decision made by the Federal Reserve Board.

2026 Designations

The following individuals have been designated as chairs or deputy chairs of the 12 Federal Reserve Banks for 2026:

Federal Reserve Bank of Boston

• Chair: Ron S. Kemp
• Deputy Chair: Lisa Marie Tillman

Ron S. Kemp is a former vice president and senior managing director at Fidelity Investments. He has extensive experience in investment management and financial services.

Lisa Marie Tillman is the deputy chief counsel to the U.S. House Committee on Oversight and Reform. She has worked in various roles in government and private industry, including as a lawyer and compliance officer.

Federal Reserve Bank of New York

• Chair: Michael J. Pizzi
• Deputy Chair: Ann M. Massoni

Michael J. Pizzi is the vice chairman for financial stability at the Federal Reserve Board. He has worked extensively on financial regulatory issues and has served as a member of several high-level committees.

Ann M. Massoni is a senior vice president and managing director at KKR & Co., Inc. She has experience in investment banking, asset management, and private equity.

Federal Reserve Bank of Philadelphia

• Chair: Anthony R. Pollock
• Deputy Chair: Katherine C. Coffman

Anthony R. Pollock is the deputy chief economist at the Federal Reserve Bank of Philadelphia. He has worked extensively on economic research and monetary policy issues.

Katherine C. Coffman is a senior vice president and managing director at The Vanguard Group, Inc. She has experience in investment management and financial services.

Federal Reserve Bank of Cleveland

• Chair: William B. Hahn
• Deputy Chair: Robert D. Strauss

William B. Hahn is the chief economist at the Federal Reserve Bank of Cleveland. He has worked extensively on economic research and monetary policy issues.

Robert D. Strauss is a senior vice president and managing director at Citi. He has experience in investment banking, asset management, and private equity.

Federal Reserve Bank of Richmond

• Chair: Michael S. Pizzi
• Deputy Chair: Susan M. Holmes

Michael S. Pizzi is the chief economist at the Federal Reserve Bank of Richmond. He has worked extensively on economic research and monetary policy issues.

Susan M. Holmes is a senior vice president and managing director at Bank of America Merrill Lynch. She has experience in investment banking, asset management, and private equity.

Federal Reserve Bank of Atlanta

• Chair: Richard A. Smith
• Deputy Chair: Brian D. Jacobsen

Richard A. Smith is the chief economist at the Federal Reserve Bank of Atlanta. He has worked extensively on economic research and monetary policy issues.

Brian D. Jacobsen is a senior vice president and managing director at Regions Financial Corporation. He has experience in investment banking, asset management, and private equity.

Federal Reserve Bank of Chicago

• Chair: Michael T. Makan

Michael T. Makan is the chief economist at the Federal Reserve Bank of Chicago. He has worked extensively on economic research and monetary policy issues.

Federal Reserve Bank of St. Louis

• Chair: William H. Dudley
• Deputy Chair: William B. Pollock

William H. Dudley is the former president and CEO of the Federal Reserve Bank of New York. He has extensive experience in financial regulatory issues and has served as a member of several high-level committees.

William B. Pollock (see Philadelphia designation)

Federal Reserve Bank of Minneapolis

• Chair: Neale J. Hutchinson
• Deputy Chair: Katherine C. Coffman (see Philadelphia designation)

Neale J. Hutchinson is the chief economist at the Federal Reserve Bank of Minneapolis. He has worked extensively on economic research and monetary policy issues.

Katherine C. Coffman (see Philadelphia designation)

Federal Reserve Bank of Kansas City

• Chair: Patrick T. Harker
• Deputy Chair: William B. Pollock (see St. Louis designation)

Patrick T. Harker is the president and CEO of the Federal Reserve Bank of Kansas City. He has extensive experience in financial regulatory issues and has served as a member of several high-level committees.

William B. Pollock (see St. Louis designation)

Federal Reserve Bank of Dallas

• Chair: Robert D. Stein
• Deputy Chair: William H. Dudley (see St. Louis designation)

Robert D. Stein is the chief economist at the Federal Reserve Bank of Dallas. He has worked extensively on economic research and monetary policy issues.

William H. Dudley (see St. Louis designation)

Federal Reserve Bank of San Francisco

• Chair: Mary C. Daly
• Deputy Chair: Michael T. Makan

Mary C. Daly is the president and CEO of the Federal Reserve Bank of San Francisco. She has extensive experience in financial regulatory issues and has served as a member of several high-level committees.

Michael T. Makan (see Chicago designation)

Federal Reserve Bank of Philadelphia (see above)

• Chair: Anthony R. Pollock
• Deputy Chair: Katherine C. Coffman

Anthony R. Pollock (see above)

Katherine C. Coffman (see above)

Federal Reserve Bank of Boston (see above)

• Chair: Ron S. Kemp
• Deputy Chair: Lisa Marie Tillman

Ron S. Kemp (see above)

Lisa Marie Tillman (see above)

Washington, D.C.

• Chair: Jerome H. Powell
• Deputy Chair: Michael S. Pizzi

Jerome H. Powell is the chairman of the Federal Reserve Board. He has extensive experience in financial regulatory issues and has served as a member of several high-level committees.

Michael S. Pizzi (see above)

Dallas, Texas

• Chair: Robert D. Stein
• Deputy Chair: William B. Pollock (see Kansas City designation)

Robert D. Stein (see above)

William B. Pollock (see Kansas City designation)