NEW YORKâThe Federal Reserve Bank of New York announced the reappointment of John C. Williams as president and Sushmita Shukla as first vice president of the Bank. Eligible members of the New York Fed’s board of directors voted unanimously to reappoint Williams and Shukla, and the Board of Governors of the Federal Reserve System unanimously approved that decision. Williams’s and Shukla’s new five-year terms begin March 1, 2026.
Class A directors, who are drawn from the banking sector, and Class B directors affiliated with certain types of financial institutions are prohibited from participating in the reappointment process. Therefore, the eligible Class B and Class C directors include Adena Friedman, Arvind Krishna, Scott Rechler, deputy chair Dr. Rajiv Shah, chair Pat Wang, and Patricia White.
The eligible Class B and Class C directors met several times to assess Williams’s and Shukla’s performance and consider whether to recommend their reappointment. The eligible directors conducted extensive interviews with a range of New York Fed, Federal Reserve System, and outside stakeholders.
“The Directors believe John and Sushmita are outstanding individuals of the highest integrity and talent who have performed extraordinarily well in their responsibilities at the Federal Reserve Bank of New York. They are also making critically important contributions to the mission and goals of the System overall,” Wang said. “Their commitment to understanding economic conditions across the New York Fed’s district while also driving significant efforts on behalf of the System is exemplary. The Second District is fortunate to have their leadership.”
For more information on the reappointment process: http://www.federalreserve.gov/faqs/what-is-the-process-for-reappointing-reserve-bank-presidents.htm
For more information about the New York Fed’s Board of Directors: https://www.newyorkfed.org/aboutthefed/org_nydirectors.html
