Press Releases

San Francisco, California — The Board of Directors of the Federal Reserve Bank of San Francisco has appointed Tracy Basinger executive vice president and director of Financial Institution Supervision and Credit Division (FISC), the Bank announced today. In this capacity, Ms. Basinger will oversee bank supervision and regulation for bank holding companies, state member banks, and foreign banking organizations throughout the Twelfth Federal Reserve District, and the provision of liquidity to the payment system by extending credit through the Fed’s discount window. Ms. Basinger’s appointment was confirmed by the Federal Reserve Board and is effective July 1, 2017. She will also […]

San Francisco, California — The Federal Reserve Bank of San Francisco announced that Robert (Bob) C. Donegan, president of Ivar’s Restaurants, was appointed to the Federal Reserve Bank of San Francisco’s Economic Advisory Council (EAC). Mr. Donegan’s term began on June 1 of this year and lasts through December 31, 2019. Robert (Bob) C. Donegan Prior to becoming president of Ivar’s Restaurants in 2001, Mr. Donegan spent three years as the Seattle-based company’s vice president, CFO and director. He also served as executive vice president and CFO at Peete’s Coffee from 1996 to 1998. Mr. Donegan earned undergraduate degrees in economics […]

Forecasts that process for unwinding Fed’s balance sheet will begin later this year and will be widely telegraphed, gradual, and “boring” Asserts that balance sheet management will take place in the “background” while interest rates continue to be the primary lever used to keep economy from overheating or running too cold Says normalization of U.S. monetary policy will make both U.S. and global economies more sustainable and resilient Singapore – Today, John C. Williams, President and CEO of the Federal Reserve Bank of San Francisco, said that the Fed’s gradual, transparent approach to normalizing monetary policy after the recession is “the […]

Says “adaptability, accessibility, and accountability” are hallmarks of sound strategy Suggests that price-level targeting is worthy of serious consideration by the Fed and Central Banks across the world Tells economists that it’s best to prepare for next economic storm today, while economy is in calmer waters than to wait for next crisis New York, New York – Today, John C. Williams, president and CEO of the Federal Reserve Bank of San Francisco, told a gathering of economists at the Shadow Open Market Committee that it is an ideal time for central banks across the world to reexamine which monetary policy frameworks […]

San Francisco, California — The Federal Reserve Bank of San Francisco has launched the Twelfth District Community Advisory Council, a group composed of leaders of nonprofit and community organizations from throughout the Bank’s district. The Council will provide the San Francisco Fed a diverse, on-the-ground perspective on issues impacting communities throughout the region. The group’s opening meeting will be on May 9. The Council will serve as an important source of information on current and pending developments in the regional and national economy, with a particular emphasis on underserved and lower-income communities. The Council will provide this perspective to the Bank’s […]

Offers holistic vision of economic prosperity Says “Prosperity for any of our communities is prosperity of all our communities” New York, New York – Today, John C. Williams, president and CEO of the Federal Reserve Bank of San Francisco offered a holistic vision of economic prosperity predicated on the notion that American economic potential depends on an array of factors, including economic mobility, diversity, the built environment and public health. Speaking at a launch and learning event for the Strong, Prosperous and Resilient Communities Challenge (SPARCC) at the Schomburg Center for Research in Black Culture, Williams strongly endorsed the work of […]

Matthew Schiffgens
Federal Reserve Bank of San Francisco
(415) 974-3246

Says rate increase is “on the table for serious consideration” in March and expresses confidence economy will continue to grow at a healthy pace after potential increases Indicates economy is close to reaching Fed’s dual mandate goals of maximum employment and price stability Santa Cruz, California — John C. Williams, president and CEO of the Federal Reserve Bank of San Francisco, offered a strong endorsement of the Federal Reserve System’s independence. Speaking to Santa Cruz business leaders, he maintained that the economy is strong and that an independent Federal Reserve has a critical role to play in protecting the stability of […]

San Francisco, California — The Federal Reserve Bank of San Francisco announced that Robert D. Ramirez, president and CEO, VantageWest Credit Union, Tucson, AZ; Andrew J. Ryback, president and CEO, Plumas Bank, Quincy, CA; Richard M. Sanborn, president and CEO, Seacoast Commerce Bank, San Diego, CA; and Joseph M. Schierhorn, president and CEO, Northrim Bank, Anchorage, AK, were appointed as the newest members of the Twelfth District’s Community Depository Institutions Advisory Council (CDIAC). Their terms are effective January 1, 2017; CDIAC members generally serve a three-year term. In addition, Jason A. Meyerhoeffer, president and CEO, First Federal Savings Bank of Twin […]

Salt Lake City, Utah — The Federal Reserve Bank of San Francisco appointed Patricia R. Richards chair of the Salt Lake City Branch board of directors, effective January 1, 2017. Ms. Richards is replacing Peter R. Metcalf, Founder, Brand Advocate and Chief Executive Officer Emeritus of Black Diamond, Inc. whose term as Chairman has expired. Mr. Metcalf will remain on the Branch Board as a director, for a term that expires in 2019. In addition, David B. Smith, Chief Operating Officer of the Larry H. Miller Management Corporation, was appointed to the Salt Lake City Branch board of directors effective January […]