The Federal Reserve Bank of Philadelphia has announced the appointment of Anna Paulson as its new president and chief executive officer. Paulson will be the 12th person to hold the position and will officially begin her role on July 1, 2025. She currently serves as executive vice president and director of research at the Federal Reserve Bank of Chicago.

Paulson will represent the Third Federal Reserve District on the Federal Open Market Committee (FOMC), which is involved in shaping U.S. monetary policy. The Third District encompasses eastern and central Pennsylvania, Delaware, and southern New Jersey.

Her selection follows a comprehensive national search beginning in September 2024, in alignment with Federal Reserve policies. The search committee was comprised of eligible Class B and Class C directors (nonbanking directors), as stipulated by the Federal Reserve Act. The search was coordinated by a committee led by Anthony Ibargüen, chair of the Philadelphia Fed board of directors and executive chair at Culligan Quench.

“Anna Paulson’s economics and monetary policy expertise, as well as her leadership at the Chicago Fed and throughout the Federal Reserve System, make her the ideal person to serve as president of the Federal Reserve Bank of Philadelphia,” said Anthony Ibargüen.

Paulson brings with her 20 years of experience in policy analysis and financial stability. Her previous roles at the Chicago Fed included advising its president and CEO on monetary policy and overseeing research on banking, financial markets, and regional economy dynamics. She also led the Chicago Fed’s Insurance Initiative, which focuses on financial stability issues in the insurance sector.

“Anna has demonstrated a strong commitment to the Federal Reserve’s dual mandate of price stability and maximum employment. Her expansive technical expertise and mission-driven focus will be a tremendous asset to the Philadelphia Fed and the communities it serves,” Ibargüen continued.

Paulson will succeed Patrick T. Harker, who will step down on June 30, 2025, due to mandatory Federal Reserve retirement policies.

Reflecting on her appointment, Paulson said, “I am honored to serve as the next president of the Federal Reserve Bank of Philadelphia. I look forward to meeting people throughout the Third District and leading the Philadelphia Fed team who are deeply committed to fostering the stability, integrity, and efficiency of the nation's monetary, financial, and payment systems.”

Paulson will participate in FOMC meetings from her start date and will secure voting rights in 2026 according to the predetermined rotation of Reserve Bank presidents.

For more details regarding the appointment and related processes, visit the Philadelphia Fed's website.