University of Michigan economist and executive vice president of academic affairs Susan M. Collins will be the next president and chief executive officer of the Federal Reserve Bank of Boston, taking office on July 1.

Collins will be only the second Black president and first Black woman to head one of the 12 Federal Reserve banks in the century-plus history of the institution. Raphael Bostic, the Federal Reserve Bank of Atlanta president, was the first Black person ever to lead a reserve bank.

“It is an honor and an inspiration to serve as the Boston Fed’s next president,” Professor Collins said. “Throughout my career, I have been driven by a commitment to leveraging research, education, and public service to improve lives. I look forward to helping the Bank and System pursue the Fed’s dual mandate from Congress – achieving price stability and maximum employment.”

Dr. Collins added that “I am also inspired by the portfolio of important and innovative work underway at the Boston Fed,” Collins said. “I am delighted with the opportunity to lead such a dynamic organization, engage with its talented staff, and work with its constituents – to understand their economic challenges and help explain the work of the Fed in the economy. It will also be a pleasure to return to Greater Boston and New England.”

Dr. Collins, grew up in New York City with her Jamaican immigrant parents and became a U.S. citizen in 1997. She earned her B.A. in economics at Harvard University and a Ph.D. in economics at the Massachusetts Institute of Technology. She also served as an assistant and then associate professor of economics at Harvard.

Original article source: https://goodblacknews.org/2022/03/07/university-of-michigan-economist-susan-m-collins-to-become-president-and-ceo-of-the-federal-reserve-bank-of-boston/ | Article may or may not reflect the views of KLEK 102.5 FM or The Voice of Arkansas Minority Advocacy Council