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Press Release

Federal Reserve Press Release

Release Date: July 7, 2011

For immediate release

The Federal Reserve Board on Thursday announced the appointment of David W. Wilcox as director of the Division of Research and Statistics, effective October 1. Wilcox, currently the deputy director of the division, will succeed David J. Stockton, who will retire on September 30 after 30 years of service with the Board, including 11 as division director.

As director of the division, Wilcox will oversee the work of 325 employees and will be responsible for briefing the Federal Open Market Committee on the outlook for the U.S. economy. The Board's Division of Research and Statistics engages in economic analysis, forecasting, and research related to the domestic economy and financial markets. The division also conducts several major programs in economic measurement, including the Industrial Production and Flow of Funds programs and the Survey of Consumer Finances.  In addition, it provides research and analysis in support of the Federal Reserve's financial stability responsibilities and supervisory and regulatory activities.

"David Wilcox brings many years of exemplary public service--both at the Board and in other senior positions--to the position of division director. His economic interests are wide-ranging, and his expertise in topics relevant to the Federal Reserve is deep," said Federal Reserve Board Chairman Ben S. Bernanke.

Wilcox served on the Board staff from 1986 to 1997 in a variety of assignments spanning economic forecasting, economic measurement, monetary policy formulation, and other topics.

During 1994 and 1995, he was detailed to serve on the staff of the President's Council of Economic Advisers. From 1997 to 2001, he served as assistant secretary for economic policy at the Treasury Department. Wilcox returned to the Board staff in 2001 as deputy director of the Division of Research and Statistics. He has published numerous papers and articles in the areas of monetary policy, fiscal policy, household spending and saving behavior, economic forecasting at the Federal Reserve, economic measurement, and defined-benefit pension plans.

Wilcox received his B.A. in mathematics at Williams College in 1980 and his Ph.D. in economics from the Massachusetts Institute of Technology in 1987.

For media inquiries, call 202-452-2955.

 
Last update: July 7, 2011