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St. Louis Fed Names Poole New President

Wednesday, April 1, 1998

The Federal Reserve Bank of St. Louis has named William Poole as president, effective March 23, 1998.

Poole joins the St. Louis Fed after a 24-year career at Brown University in Providence, R.I., where he was the Herbert H. Goldberger Professor of Economics. He twice has served as chairman of the economics department and was the director of the university's Center for the Study of Financial Markets and Institutions for five years. He also was a member of the Shadow Open Market Committee.

"Bill Poole is a distinguished scholar and respected economist," said John F. McDonnell, chairman of the St. Louis Bank's board of directors. "His views are a great fit with our stance that price stability should be the singular goal of monetary policy, and we are very impressed with the leadership ability he has demonstrated throughout his career."

Poole began his career at the Board of Governors of the Federal Reserve System in 1964 and worked as a senior economist there from 1969 to 1974. He was a member of the Council of Economic Advisers from 1982 to 1985 during the first Reagan Administration. Before joining the St. Louis Fed, he was a member of the Academic Advisory Panels of the Federal Reserve Banks of New York and Boston.

Poole holds Ph.D. and M.B.A. degrees from the University of Chicago and an A.B. degree from Swarthmore College. He replaces Tom Melzer, who resigned in January after more than 12 years as Bank president.