NEW YORK (AP) - The Federal Reserve Bank of New York has named Brian P. Sack to lead its markets group effective June 1, succeeding William C. Dudley, who became president and chief executive of the New York Fed earlier this year.
Sack, 38, is currently a vice president at Macroeconomic Advisers, an economic analysis firm based in St. Louis and Washington. Before joining the company in 2004, Sack was head of the Monetary and Financial Markets Analysis section of the Federal Reserve’s Board of Governors.
“He brings to the bank a unique understanding of the interplay of economics and finance and has a combination of real world experience and public service that will be invaluable to the New York Fed,” Dudley said in a statement Friday.
Sack’s research has included extensive analysis of the interactions between Federal Reserve policy actions, financial markets and the U.S. economy. In his new role, he will oversee domestic open market operations and foreign exchange trading operations, helping the government in its efforts to end one of the worst credit and financial crises in the nation’s history.
Sack received his Ph.D. in economics from the Massachusetts Institute of Technology in 1997 and a B.A. in mathematics and economics from the University of Vermont in 1992.