Press Releases

SAN FRANCISCO – The Federal Reserve Bank of San Francisco has announced new leadership designations and appointments to its Head Office Board of Directors, effective January 1, 2022. Tamara Lundgren, chairman, president and chief executive officer of Schnitzer Steel Industries, Inc. in Portland, Oregon, is now the chair of the San Francisco Head Office Board of Directors and Federal Reserve Agent for 2022. She served as deputy chair of the Head Office Board of Directors in 2021. Tamara Lundgren Ms. Lundgren has served as president, chief executive officer and director of Schnitzer Steel Industries since 2008. Prior to joining the company […]

SAN FRANCISCO – The board of directors of the Federal Reserve Bank of San Francisco has appointed Sarah Devany first vice president and chief operating officer, effective Dec. 1. Devany’s appointment, which was approved by the Board of Governors of the Federal Reserve System, makes her the number two ranking officer of the San Francisco Fed. Devany brings more than 25 years of experience in operations, strategic planning, and executive leadership to the San Francisco Fed. In her capacity as first vice president and COO, Devany will oversee the Bank’s operations and risk management functions, as well as help design and […]

SAN FRANCISCO – The ways U.S. consumers use cash and other payment methods continue to show the marks of the COVID-19 pandemic, with households holding modestly higher amounts of cash while also migrating toward not-in-person payments, according to a recent survey conducted by the Federal Reserve System’s Cash Product Office (CPO) and the Federal Reserve Bank of Atlanta. The patterns of consumer behavior established in late summer 2020, in response to the COVID-19 pandemic, continued to hold true into spring of 2021, despite the fact that businesses across the U.S. reopened for indoor and outdoor services. Consumers are holding more cash […]

SAN FRANCISCO—The Federal Reserve Bank of San Francisco is partnering with the Aspen Institute to host “Fintech, Racial Equity, and an Inclusive Financial System,” a panel event and publication exploring the most pressing questions about how the push for racial equity intersects with financial technology. The event will take place on August 25, 2021. Registration is free. The event marks the publication of the latest edition of Community Development Innovation Review (CDIR), a research journal targeting the foundational economic health of U.S. communities that do not experience full equity in the current financial system. At the virtual event, SF Fed President […]

SAN FRANCISCO – The Federal Reserve Bank of San Francisco’s board of directors today announced the search for the Bank’s first vice president and chief operating officer. The incumbent, Mark A. Gould, was recently named the Federal Reserve System’s first chief payments executive. The first vice president and chief operating officer is integral to the Bank’s pursuit of its vision to be a premier public service organization, and its commitment to reflect and serve every person and community across the Twelfth District. As the second-ranking officer of the Federal Reserve Bank of San Francisco, the first vice president and chief operating […]

SAN FRANCISCO – The Federal Reserve System’s Cash Product Office has released a report in its ongoing research on payment habits of the U.S. population. Changes in payment preferences due to the COVID-19 pandemic are reflected in a surge of non-in-person payments over the past year. The use of cash appeared to rebound during the last nine months of 2020 as the nation made progress controlling infection rates. However, the pandemic’s long-term implications for consumer payment behavior are unclear. These are the key findings from the most recent Diary of Consumer Payment Choice, which is published annually by the Federal Reserve […]

SAN FRANCISCO ­– Advance registration is now open for the third installment of the Federal Reserve Bank of San Francisco’s ongoing virtual series, The New Future of Work. On March 22, Mary C. Daly, president and CEO of the Federal Reserve Bank of San Francisco, will moderate a discussion about the future of education, exploring how to evolve higher education to prepare our future workforce, find paths to equalize access to a college degree and discuss what skills to prioritize for the economy of the future. Featured panelists include: Sal Khan, founder and CEO of Khan Academy Peter Q. Blair, faculty […]

New podcast episodes reveal diverse stories of hope from micro-economies within the Twelfth District during the pandemic SAN FRANCISCO — The Federal Reserve Bank of San Francisco is launching a special edition of Zip Code Economies, a podcast hosted by the Bank’s President and CEO, Mary C. Daly. Season 1.5 of Zip Code Economies uncovers stories of hope gathered during the pandemic. These stories put a human face to micro-economies within the nine Western states of the Federal Reserve’s Twelfth District. Across five episodes, Zip Code Economies Season 1.5 revisits some of the most memorable people featured in Season 1 of […]

SAN FRANCISCO –Consumers continued to increase the amount of cash they are carrying and/or storing, while nearly 80 percent of respondents who made in-person purchases did not indicate that they were avoiding or averse to using cash during the COVID-19 pandemic. These are two prominent findings from the most recent consumer survey conducted jointly by the Federal Reserve System’s Cash Product Office (CPO), based at the Federal Reserve Bank of San Francisco, and the Federal Reserve Bank of Atlanta. The Federal Reserve conducts this annual survey, The Diary of Consumer Payment Choice, to better understand U.S. consumers’ payment behavior and preferences. […]

SAN FRANCISCO — The Federal Reserve Bank of San Francisco announced a new chair and the newest members of the Twelfth District’s Economic Advisory Council (EAC). Jacqueline Reses, chief executive officer and founder of Post House Capital, LLC, in Woodside, California, has been appointed chair of the council for 2021. New members of the EAC, whose two-year terms began on January 1, 2021, include: David Carlisle, president and chief executive officer of Charles R. Drew University of Medicine, Los Angeles, California; Beverly Cole, president and chief executive officer of Cole Renwick, LLC, Glendale, California; Christy Johnson, founder and chief executive officer […]