Press Releases

Los Angeles, California — The Federal Reserve Bank of San Francisco appointed Steven W. Streit, founder and CEO of Green Dot Corporation, to its Los Angeles Branch board of directors for a three-year term, effective January 1, 2017. He is replacing David I. Rainer, Chairman and CEO, California United Bank, Encino, CA, whose term has expired. Steven W. Streit Mr. Streit is the founder and CEO of Green Dot Corporation, and has served as its CEO for over 17 years. Since its founding in 1999, Mr. Streit has led Green Dot to become one of the nation’s largest providers of reloadable […]

Portland, Oregon – The Federal Reserve Bank of San Francisco appointed Tamara L. Lundgren chair of the Portland Branch board of directors, effective January 1, 2017. In addition, Anne C. Kubisch, president and chief executive officer of The Ford Family Foundation, was appointed to its Portland Branch board of directors effective January 1, 2017. She is replacing Dr. Joseph E. Robertson, Jr., Chairman of the Board and President of Oregon Health & Science University, whose term has expired. In addition, Steven J. Zika, chief executive officer and director at Hampton Lumber, was reappointed to a three-year term ending December 31, 2019. […]

Seattle, Washington — The Federal Reserve Bank of San Francisco appointed Drew Wolff, Vice President and Treasurer of Starbucks Coffee Company, to its Seattle Branch board of directors for a three-year term, effective January 1, 2017. He is replacing Nicole W. Piasecki, Vice President and General Manager, Propulsion Systems Division, The Boeing Company, Seattle, WA, whose term has expired. In addition, the Bank also appointed Cheryl B. Fambles, CEO, Pacific Mountain Workforce Development Council, to the Seattle Branch board of directors for a three-year term, effective January 1, 2017. She is replacing Greg Leeds, former President and CEO of Wizards of […]

San Francisco, California — The Federal Reserve Bank of San Francisco’s board of directors has appointed Robert G. Sarver, chairman and CEO of Western Alliance Bancorporation, to represent the District on the Federal Advisory Council for a one-year term beginning January 1, 2017. Mr. Sarver succeeds John G. Stumpf, former chairman and CEO of Wells Fargo & Company. The Federal Advisory Council, a body created by the Federal Reserve Act, consists of one member—generally from the commercial banking industry—from each of the twelve Reserve Bank Districts. The council ordinarily meets four times a year with the Board of Governors in Washington, […]

San Francisco, California — The Board of Governors of the Federal Reserve System designated Alexander R. Mehran as chairman of the Federal Reserve Bank of San Francisco’s board of directors, and Barry M. Meyer as deputy chairman, effective January 1, 2017. Mr. Meyer was also reappointed as a Class C director for a three-year term, effective January 1, 2017.  Alexander R. Mehran Mr. Mehran is chairman and CEO of Sunset Development Company, San Ramon, California. He is the former chairman of the board of directors of The Bay Area Council, and a current member of its executive committee. He is also […]

San Francisco, California — The Board of Directors of the Federal Reserve Bank of San Francisco has appointed Mary C. Daly executive vice president and director of Economic Research, the Bank announced today. In this capacity, Ms. Daly will oversee all research and analysis functions that support the development of monetary policy and that help further understanding of the economy nationally and globally. She succeeds Glenn D. Rudebusch, who will remain at the Bank as executive vice president and senior policy advisor. Ms. Daly’s appointment is effective January 1, 2017. In announcing the appointment, John C. Williams, president and CEO of […]

Anchorage, Alaska – A return to rate hikes “makes sense,” said a top Fed official today. “In the context of a strong domestic economy with good momentum, it makes sense to get back to a pace of gradual rate increases, preferably sooner rather than later,” said John Williams, president of the San Francisco Fed. He made the remarks while speaking to the Anchorage Economic Development Corporation. The policymaker warned against waiting too long, noting the risks of delayed action: “…if we wait until we see the whites of inflation’s eyes, we don’t just risk having to slam on the monetary policy […]

Federal Reserve Bank of San Francisco economists Zheng Liu and Mark Spiegel along with co-author Chun Chang of the Shanghai Advanced Institute of Finance have been awarded the Sun Yefang Award for their paper “Capital Controls and Optimal Chinese Monetary Policy,” published in the Journal of Monetary Economics.

Sacramento, California – It’s “more likely than not” that slow productivity growth “is both real and here to stay,” said John C. Williams on Friday. However, the San Francisco Fed president told the Sacramento Economic Forum, this should not cause alarm. “While the days of 2½ to 3 percent growth are behind us, at least for the foreseeable future, it isn’t the end of the world. We can still run a strong economy.” Williams pointed out that “GDP grew at 2 percent last year, we added 2¾ million jobs, and I forecast a 2016 that looks a lot like 2015 with […]

Willa Seldon, partner, the Bridgespan Group, was appointed a member of the Federal Reserve Bank of San Francisco’s Economic Advisory Council (EAC), effective May 1, 2016.