|11th President of the Federal Reserve Bank of New York|
June 18, 2018
|12th President of the Federal Reserve Bank of San Francisco|
March 1, 2011 - June 18, 2018
|Mark Gould (Acting)|
John Carroll Williams|
June 12, 1962
University of California, Berkeley (BA)|
London School of Economics (MSc)
Stanford University (PhD)
John Carroll Williams (born June 12, 1962) is the President and Chief Executive Officer of the Federal Reserve Bank of New York, having also served as President of Federal Reserve Bank of San Francisco from 2011-2018. He serves as Vice Chairman of the Federal Open Market Committee.
Williams earned an A.B. with high distinction from the University of California at Berkeley in 1984; a Master's of Science with distinction in economics from the London School of Economics in 1989, and completed a Ph.D. in Economics at Stanford University in 1994. His research focuses are monetary policy under uncertainty; innovation; productivity, and business cycles.
He began his career in 1994 as an economist at the Board of Governors of the Federal Reserve System. He joined the Federal Reserve Bank of San Francisco in 2002. Prior to becoming the president, he was the executive vice president and director of research for the San Francisco bank. He took office as President and Chief Executive Officer of the Federal Reserve Bank of San Francisco on March 1, 2011.
By 2017, Williams was well respected. "Williams is already a bit of a rock star at the Fed, having replaced [former Fed Chair] Yellen as the head of the San Francisco Fed," according to several leading economists.
On April 3, 2018, it was announced that Williams has been named President and CEO of the New York Fed, beginning on June 18, 2018. This is a step up in his career: the New York bank is unique within the Federal Reserve system, in that it conducts the open market operations on behalf of the Federal Open Market Committee, acts as the agent of the U.S. Treasury, and handles "banking and clearing services to foreign central banks, governments and international agencies."
Williams currently serves as the managing editor of the International Journal of Central Banking. Previously, he served as associate editor of The American Economic Review. Additionally, he served as senior economist at the White House Council of Economic Advisers and as a lecturer at Stanford University's Graduate School of Business.
In recent years, Williams has often spoken of how he sees the "natural rate of interest" as a key long-term concept when discussing monetary policy. He has, lightheartedly, spoken of how he has "a passion" for the topic.
Williams is a native of Sacramento, California. He is married to Audrey Lyndon, Associate Professor & Chair, Department of Family Health Care Nursing at UCSF. They have two sons, and reside in the San Francisco Bay Area. He enjoys listening to The Clash, Led Zeppelin and Elvis Costello.