President of Federal Reserve Bank of New York to Give Inaugural Economics Lecture At UB

BUFFALO, N.Y. -- William J. McDonough, president of the Federal Reserve Bank of New York, will give the inaugural lecture in the University at Buffalo Invited Speakers Series in Economics at 11:30 a.m. on Thursday, Sept. 10, in the Center for the Arts Screening Room on the UB North (Amherst) Campus.

The lecture will be sponsored by the Economics Department in the UB College of Arts and Sciences and Dean Kerry S. Grant.

It will be free and open to the public.

McDonough, who joined the New York Fed as executive vice president in 1992 and became president one year later, also serves as the vice chairman and a permanent member of the Federal Open Market Committee, the group responsible for formulating the nation's monetary policy.

Before joining the New York Fed, McDonough had a 22-year career with the First National Bank of Chicago, where he served as vice chair of the board and director of the bank holding company. He also served as an advisor to a variety of domestic and international organizations.

A member of the board of directors of the Bank for International Settlements and chair of the Basle Committee on Banking Supervision, McDonough also is on the board of governors of the New York Academy of Sciences, the board of directors of the Council on Foreign Relations and is chair of the board of trustees of The Economic Club of New York.