William C. Dudley became the tenth president and chief executive officer of the Federal Reserve Bank of New York on January 27, 2009. In that capacity, he serves as the vice chairman and a permanent member of the Federal Open Market Committee (FOMC), the group responsible for formulating the nation’s monetary policy.
Mr. Dudley had been executive vice president of the Markets Group at the New York Federal Reserve where he also managed the System Open Market Account for the FOMC. The markets group oversees domestic open market and foreign exchange trading operations and the provisions of account services to foreign central banks.
Prior to joining the bank in 2007, Mr. Dudley was a partner and managing director at Goldman, Sachs & Company and was the firm’s chief U.S. economist for a decade. Earlier in his career at Goldman Sachs, he had a variety of roles including a period when he was responsible for the firm’s foreign exchange forecasts. Prior to joining Goldman Sachs in 1986, he was a vice president at the former Morgan Guaranty Trust Company. Mr. Dudley was an economist at the Federal Reserve Board from 1981 to 1983.
He was a member of the technical consultants group to the Congressional Budget Office from 1999 to 2005.
Mr. Dudley received his doctorate in economics from the University of California, Berkeley in 1982 and a bachelor of arts degree from the New College of Florida in Sarasota in 1974.
Mr. Dudley serves as chairman of the Committee on Payment and Settlement Systems of the central banks of the G-10 countries hosted at the Bank for International Settlements.
Mr. Dudley and his wife, Ann E. Darby, reside in New Jersey.