St. Louis Fed's Poole Accepts Positions at Cato Institute, University of Delaware

ST. LOUIS — William Poole, president of the Federal Reserve Bank of St. Louis, has accepted positions at the Cato Institute in Washington, D.C., and the University of Delaware in Newark, Del.

Poole is retiring as St. Louis Fed president as of March 31. Dr. James B. Bullard, currently the St. Louis Bank's deputy director of research for monetary analysis, has been appointed to succeed Poole, effective April 1.

Poole is joining the Cato Institute, a nonprofit public policy research foundation, as a senior fellow. He will begin his duties there in the fall of 2008. "I've been a longtime admirer of the Cato Institute's work," Poole said. "It's an honor to join their staff. Their efforts at broadening public policy debate to promote consideration of free markets, individual liberty, limited government and peace are ones I greatly admire. I look forward to participating in those efforts."

Poole's appointment at the University of Delaware as a distinguished scholar in residence also begins this coming fall semester. Conrado (Bobby) M. Gempesaw, dean of UD's Lerner College of Business and Economics, said "We are very pleased that Bill Poole will join us as a distinguished scholar in residence in the Department of Economics. He has been one of the more prominent and influential voices in setting our nation's monetary policy during the past decade. Our students and faculty are very fortunate to be given the opportunity to interact with Bill Poole."

With branches in Little Rock, Louisville and Memphis, the Federal Reserve Bank of St. Louis serves the Eighth Federal Reserve District, which includes all of Arkansas, eastern Missouri, southern Indiana, southern Illinois, western Kentucky, western Tennessee and northern Mississippi. The St. Louis Fed is one of 12 regional Reserve banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, regulates state-chartered member banks and bank holding companies, and provides payment services to financial institutions and the U.S. government.

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