Release Date: April 12, 2010
For immediate release
The Federal Reserve Board on Monday announced the appointment of William B. English as director of the Division of Monetary Affairs, effective July 23, 2010.
English, who has served as deputy director of the division since February 2008, succeeds Brian F. Madigan, who has been appointed senior adviser to the Board, effective upon English's promotion. Madigan plans to retire later this year after more than 30 years of service with the Board, including three years as head of the division.
As director, English will advise the Chairman, Board members and the Federal Open Market Committee (FOMC) on the conduct of monetary policy, including open market operations and the discount window.
"Bill English brings impeccable professional and academic credentials and proven experience to an important position. His deep expertise will help the Federal Reserve navigate the challenges of the period ahead," said Federal Reserve Board Chairman Ben S. Bernanke.
English began his career at the Board in 1992 as an economist. He was appointed to the Board's official staff in 2001. During his career, he also has served as a visiting senior economist at the Bank for International Settlements and as a visiting senior economist at the President's Council of Economic Advisers. He has taught at the University of Pennsylvania and the University of Chicago Graduate School of Business. He holds a B.A. in economics and mathematics from Yale University and a Ph.D. in economics from Massachusetts Institute of Technology.
Madigan, who also serves as FOMC Secretary, joined the Board staff in 1979 as an economist. He was appointed to the official staff in 1987, promoted to associate director of the division in 1993, to deputy director in 2001, and director in 2007. He holds an A.B. from St. Joseph's College and a Ph.D. in economics from Pennsylvania State University.
"The hallmarks of Brian's career have been exemplary leadership, keen insight, and incredibly hard work. I am especially grateful for his dedicated service to the Board and his country during one of the most difficult times in our nation's financial and economic history," Chairman Bernanke said.