Press Releases
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James H. Herbert, II, Reappointed to the Federal Advisory Council
San Francisco, California — The Federal Reserve Bank of San Francisco’s board of directors has reappointed James H. Herbert, II, chairman and CEO (Founder) of First Republic Bank, to represent the District on the Federal Advisory Council beginning January 1, 2019. Mr. Herbert was first appointed to the board of directors on April 1, 2018. […]
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Membership Appointments Announced for the Federal Reserve Bank of San Francisco’s Community Depository Institutions Advisory Council
San Francisco, California — The Federal Reserve Bank of San Francisco announced that Russell A. Colombo, president and CEO, Bank of Marin, Novato, CA; James J. Schlotfeldt, president and CEO, First Federal Savings & Loan, McMinnville, OR; Janet M. Silveria, president and CEO, Community Bank of Santa Maria, Santa Maria, CA; Richard F. Wacker, president and […]
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Annual Fed report shows more transactions made in-person with cash than debit or credit
Cash remains the most frequently used payment instrument in the nation, according to a new report out of the Federal Reserve’s Cash Product Office. The 2017 Diary of Consumer Payment Choice found cash payments made up 30 percent of payments last year, more than any other payment instrument. Debit cards were used 27 percent of […]
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Sylvain Leduc Appointed Executive Vice President and Director of Research at the Federal Reserve Bank of San Francisco
San Francisco, California — The Board of Directors of the Federal Reserve Bank of San Francisco appointed Sylvain Leduc executive vice president and director of Economic Research, the Bank announced today. In this capacity, Leduc will oversee all research and analysis functions that support the development of monetary policy and that help further understanding of […]
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Mary C. Daly Named Federal Reserve Bank of San Francisco President and Chief Executive Officer
San Francisco, California – The Federal Reserve Bank of San Francisco announced today that its Board of Directors has appointed Mary C. Daly to the position of president and chief executive officer, effective October 1, 2018. Daly’s appointment as the San Francisco Fed’s 13th president and chief executive officer was made by eligible members of […]
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Federal Reserve Bank of San Francisco’s Board of Directors Launches Search for New Bank President & CEO
San Francisco, California – The Federal Reserve Bank of San Francisco’s board of directors today announced the search for the bank’s 13th president and chief executive officer. The incumbent bank president, John C. Williams, was recently named to lead the Federal Reserve Bank of New York. He will transition into his new role, effective June […]
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SF Fed’s Williams: Despite the Strong Economic Outlook, Data Indicates Long-Term R-Star Will Remain Low
Williams says he expects “the expansion to continue, with growth averaging around 2.5 percent over this year and the next.” Says “the longer-run drivers still point to a ‘new normal’ of a low r-star and relatively low interest rates.” Agrees with midpoint of FOMC projections that “a total of three to four rate increases this […]
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Report on Disaster-Affected Small Firms Provides Critical Insight for Understanding Regional Economic Recovery
Firms with natural disaster-related damages faced insurance mismatches and sought credit financing but struggled with funding gaps The Federal Reserve Banks of San Francisco, New York, Dallas, and Richmond today issued the 2017 Small Business Credit Survey: Report on Disaster-Affected Firms. This is the first in a series of reports this year examining the results […]
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SF Fed’s Williams: Sustainable Growth Will Keep the Strong Economy Going as Long as Possible
Williams says looking ahead, he expects “growth to average around 2.5 percent over this year and next” Says “the economy is on course to be as strong as we have seen in many decades and inflation is moving closer to our target. The challenge for monetary policy is to keep it that way” Says the […]
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James H. Herbert II Appointed to the Federal Advisory Council
San Francisco, California — The Federal Reserve Bank of San Francisco’s board of directors has appointed James H. Herbert, II, Chairman and CEO (Founder) of First Republic Bank, to represent the District on the Federal Advisory Council. Mr. Herbert’s one-year term began on April 1, 2018. He succeeds Robert G. Sarver, Chairman and CEO of […]