William C. Dudley
| William C. Dudley | |
|---|---|
 |
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| 10th President of the Federal Reserve Bank of New York | |
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Assumed office January 27, 2009 |
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| Preceded by | Timothy F. Geithner |
| Personal details | |
| Born | 1952 (age 64–65) |
| Spouse(s) | Ann E. Darby |
| Alma mater |
New College of Florida, University of California, Berkeley |
| Occupation | Economist |
William C. Dudley (born 1952) is the president of Federal Reserve Bank of New York and vice-chairman of the Federal Open Market Committee. He was appointed to the position on January 27, 2009, following the confirmation of his predecessor, Timothy F. Geithner, as United States Secretary of the Treasury.
Dudley earned a B.A. degree from New College of Florida in 1974, and a PhD in economics from the University of California, Berkeley in 1982.
Dudley worked at Goldman Sachs from 1986 to 2007, holding the position of chief economist for ten years before he was hired by then-president of the New York Federal Reserve Timothy Geithner to oversee the department in charge of buying and selling government securities. According to salary figures released in 2010, Dudley is paid "more than $410,000 per year", making him one of the two highest-paid of the twelve presidents of the Federal Reserve Banks.
He is a member in the Group of Thirty.
In 2002, Dudley wrote the Federal Reserve should have "tightened policy earlier and more aggressively during the 1996-1999 period", with the hope that the downward forces would not have been so intense after the collapse of the stock market that began in 2000.
Dudley was criticized for remarks over food inflation in 2011 when he argued that you have to look at all prices when looking at inflation. He noted that some prices like the iPad were effectively falling as the next generation was twice as powerful at the same price. A member of the crowd shouted "I can't eat an iPad".
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