Presidential search

As set forth by law in the Federal Reserve Act, the president is appointed by the Dallas Fed’s Class B and C Directors (those elected or appointed to represent the public), subject to the approval of the Federal Reserve Board of Governors. To conduct the search, the Dallas Fed’s board of directors formed a search committee composed of Class B and C directors.

In coordination with Egon Zehnder, a global executive search firm, the search committee identified a broad, highly qualified and very diverse candidate pool. Public engagement in the search process and the many candidate recommendations that were submitted allowed us to connect with accomplished candidates from an impressive variety of backgrounds, professions and regions of the nation. The committee then conducted subsequent rounds of interviews, narrowing the choice down to the best candidate for the role, Lorie K. Logan.

The Dallas Fed announced the official search for a new president beginning November 17, 2021, and Logan’s selection was announced on May 11, 2022.

The president of a Federal Reserve Bank is appointed for a five-year term. The terms of all the presidents of the 12 District Banks run concurrently and end on the last day of February of years numbered 1 and 6 (for example, 2021 and 2026). A president who takes office after a term has begun ends upon the completion of that term and is eligible for reappointment to a full five-year term. Logan will fulfill the remainder of the current five-year term that commenced on March 1, 2021, and ends on February 28, 2026. At that time, the president may be reappointed after a rigorous and comprehensive process overseen by the Board of Governors.

Reserve Bank presidents are subject to mandatory retirement at age 65. However, presidents initially appointed after age 55 can, at the option of the board of directors, be permitted to serve until attaining 10 years of service in the office or until age 75, whichever comes first.

Logan will participate in her first Federal Open Market Committee (FOMC) meeting in September. Following the typical FOMC rotation, Logan will be a voting member in 2023.

The Federal Reserve's Board of Governors is in the process of framing a broad set of new rules that will prohibit the purchase of individual securities, restrict active trading, and increase the timeliness of reporting and public disclosure by Fed policymakers and senior staff. Logan plans to fully comply with all requirements in addition to current rules in place for Federal Reserve presidents. She also plans to work with staff at the Dallas Fed to identify new ways to promote transparency with the public.

Logan has dedicated her career to public service and will build upon the legacy of exceptional leadership at the Dallas Fed. She is deeply committed to direct engagement with communities across the region and eager to hear your perspectives on how the Dallas Fed can best support a healthy economy that works for all of us.

Soon, she will be traveling the district and getting to know the amazing people, businesses and organizations that drive our economy.  If you are interested in having Logan engage with your community, please fill out our speaker request form. To be notified about events and speeches from the new president, please subscribe to our email list.