Press Releases

Scott L. Morris Seattle, WA – The Federal Reserve Bank of San Francisco has appointed Scott L. Morris, chairman, president and chief executive officer of energy company Avista Corp., to its Seattle Branch board of directors. His appointment is for a three-year term and became effective January 1, 2011. Mr. Morris joined Spokane-based Avista Corp. in 1981 and has served in leadership positions throughout the company. He was elected president in 2006 and named chairman and chief executive officer in 2008. Mr. Morris serves as chairman of the board for the Western Energy Institute and is a board member of the […]

Douglas W. Shorenstein Patricia E. Yarrington San Francisco, CA – The Board of Governors of the Federal Reserve System designated Douglas W. Shorenstein chairman of the Federal Reserve Bank of San Francisco’s board of directors. Patricia E. Yarrington was reappointed as a Class C director for a three-year term, effective January 1, 2011, and designated deputy chair. They begin their service as chairman and deputy chair effective January 1, 2011. Mr. Shorenstein is chairman and CEO of San Francisco based Shorenstein Properties LLC, one of the country’s oldest real estate organizations. He joined the Federal Reserve Bank of San Francisco’s board […]

Janet Yellen Chairman Dodd, Senator Shelby, and members of the Committee, I am honored to appear before you as President Obama’s nominee to serve as a Member and Vice Chair of the Board of Governors of the Federal Reserve System. If I am confirmed to these positions, I look forward to working with this Committee in the coming years. I am wholeheartedly committed to pursuing the Federal Reserve’s congressionally mandated goals of maximum employment and price stability and to strengthening our program of supervision and regulation, building on the lessons learned during the financial crisis. We must work together, and in […]

Mary F. Kaiser Alfred A. Plamann San Francisco, CA – Mary F. Kaiser, president of California Community Reinvestment Corporation, and Alfred A. Plamann, president and chief executive of Unified Grocers, Inc., were chosen as chair and vice chair of the Federal Reserve Bank of San Francisco’s Economic Advisory Council. Ms. Kaiser has been on the council since April 2007 and has served as vice chair since 2009, while Mr. Plamann joined in January 2009. Their terms end in 2012 and 2011, respectively. Economic Advisory Council (EAC) members provide information on current and pending developments in the regional and national economies. During […]

Janet Yellen San Francisco, CA — Following the White House announcement today that President Obama has asked her to serve as Vice Chairman of the Federal Reserve Board of Governors, Janet L. Yellen, President and Chief Executive Officer of the Federal Reserve Bank of San Francisco said: “I’m honored that President Obama has asked me to serve in that capacity. If confirmed by the Senate, I am looking forward to working even more closely with Chairman Bernanke and the other governors, and continuing to collaborate with my colleagues throughout the Federal Reserve System to conduct policies that foster economic prosperity and […]

Richard C. Blum San Francisco, CA — Richard C. Blum, chairman and founder of San Francisco-based Blum Capital Partners, has joined the Federal Reserve Bank of San Francisco’s Economic Advisory Council for a three-year term ending December 31, 2012. Economic Advisory Council members provide information on current and pending developments in the regional and national economies. As a member of the Economic Advisory Council, Mr. Blum will provide insights on the Bay Area’s financial services industry and will offer observations on private equity and other Bay Area business interests. Mr. Blum founded Blum Capital in 1975 to invest in private equity […]

Megan Clubb Portland, OR – The Federal Reserve Bank of San Francisco has appointed Megan Clubb, president and CEO of Baker Boyer Bank, to the Portland Branch board of directors, effective January 1, 2010. The board of directors provides the region’s economic perspective to the Federal Reserve Bank’s district board of directors in San Francisco and the Board of Governors in Washington, D.C. The Board of Governors uses this information when determining national economic policies and banking regulations. Baker Boyer National Bank, headquartered in Walla Walla, Washington, is the oldest independently owned community bank in the state, with nine branches and […]

Mary O. McWilliams Seattle, WA – The Board of Governors of the Federal Reserve System has appointed Mary O. McWilliams, executive director, Puget Sound Health Alliance to the Seattle Branch board of directors. The appointment became effective January 1, 2010. Ms. McWilliams leads a regional coalition of purchasers, providers, and health plans with the goal of advancing quality and affordability of healthcare through performance measurement, public reporting and payment reform. She was appointed as executive director of Puget Sound Health Alliance in June 2008, after serving three years as a member of its board of directors. Prior to joining Puget Sound […]