Cathy Minehan
| Cathy E. Minehan | |
|---|---|
| Born | 15 February 1947 Jersey City, New Jersey |
| Residence | Boston, Massachusetts |
| Alma mater | University of Rochester, NYU |
| Board member of |
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| Spouse(s) | E. Gerald Corrigan |
| Children |
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Cathy E. Minehan (born February 15, 1947, in Jersey City, New Jersey) was President and Chief Executive Officer of the Federal Reserve Bank of Boston from 1994 until her retirement in July 2007. Minehan also served as a member of the Federal Open Market Committee, the body responsible for U.S. monetary policy. She was "appointed Dean of the School of Management of Simmons College, a private university, in August 2011 and is Managing Director of Arlington Advisory Partners, a private advisory services firm."
At the national level over her years of service, she has chaired the Financial Services Policy Committee, a body that oversees the provision of Reserve Bank payment services, and has played key roles in the System's planning for or response to Y2K, interstate banking legislation, and 9/11. She also led efforts related to clarifying the governance of shared national activities among Reserve Banks.
According to Samuel O. Thier, MD, a director on the Federal Reserve Bank of Boston’s board, its former chairman, and Professor of Medicine and Health Care Policy at Harvard Medical School
"Cathy led the Bank during a challenging period characterized by dramatic changes in world events, the economy and technology.
Minehan was considered by economists to be a more of a monetary dove than a hawk in her economic philosophy.
"Hawks tend to view higher interest rates, slower growth and lower levels of employment as a price worth paying for keeping inflation at bay. Doves take a more lenient view of inflation if it means stronger employment growth, or are less liable to generate alarming forecasts for inflation as they estimate future growth and price-pressures."
From 1968 to 1978 Minehan worked as a bank examiner, analyst, and supervisor at the Federal Reserve Bank of New York. She became Assistant Vice President in 1979 and in 1982 she became Vice President. She was promoted to Senior Vice President in 1987 and remained in that position until 1991 when she joined the Federal Reserve Bank of Boston.
From 1991 to 1994 Minehan was the Vice President of the Federal Reserve Bank of Boston, one of 12 regional Reserve Banks that together with the Board of Governors in Washington D.C. form the Federal Reserve System, which charts "the nation's monetary policy and ensures smooth operation of the banking system." Through the years Minehan "served various roles in Public Information and Accounting Control as well as Check Processing, Accounting, Funds and Securities." In 1991, she was appointed First Vice President and Chief Operating Officer of the Federal Reserve Bank of Boston. She was the first female President and CEO of the Federal Reserve Bank of Boston.
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