Atlanta Fed Appoints Cheryl Venable as Senior Vice President and Chief Operating Officer

THE Federal Reserve Bank of Atlanta has a new senior vice president and chief operating officer.

Cheryl Venablewho has worked for the bank since 1991, will assume his new role on August 1, the Federal Reserve announced in a statement. Press release Thursday (June 27).

Her His most recent position was as head of payment operations for the Federal Reserve’s financial services division. And as Executive Vice President of the Atlanta Fedthe press release states. As first vice chairman, Venable will serve on the Discount Committee, which reviews loans from the district’s discount window, and will serve as the Atlanta Fed’s deputy chairman in exercising his monetary policy responsibilities.

She succeeds Andre T. AndersonWHO is set retiring at the end of the month after more than 40 years at the bankaccording to the press release.

“Cheryl is an exceptionally qualified leader whose expertise, experience and strategic vision will serve her well as senior vice president and chief operating officer of the Atlanta Fed,” the president said. Raphael Bosticwho chaired the search committee, in the press release. “I look forward to partnering with Cheryl to advance the bank’s strategic initiatives, continue to promote our strong commitment to excellence and work to ensure an economy that works for everyone.” »

As head of the bank’s payments operations, Venable led the teams responsible for FedACH, checks, wholesale and FedNow® Serviceaccording to the press release.

His appointment comes at a relatively short notice. inflation rate provides hope to venture capitalists and economists who watched the Fed to lower interest rates.

The central bank kept rates steady at its meeting last month, but new inflation data was seen by many as a positive dynamic that could lead the Fed to consider a reduction.

“Our current policy is well positioned to respond if necessary to any changes in the economic outlook,” the Federal Reserve governor said. Lisa Cook said last week. “With significant progress on inflation and a gradual cooling of the labor market, it will be appropriate at some point to reduce the level of policy restriction to maintain a healthy balance in the economy.”

She added that ““The timing of such an adjustment will depend on how economic data evolve and what they imply for the economic outlook and the balance of risks.”