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Sept. 5: Tepper School Grad Named President, CEO of Federal Reserve Bank of Chicago


Geof Becker

Tepper School Graduate Named President, CEO of Federal Reserve Bank of Chicago

Charles L. Evans Cited for Exemplary Leadership, Public Service

PITTSBURGH—Continuing a proud tradition of service to top financial institutions, the Tepper School of Business at Carnegie Mellon University announced that graduate Charles L. Evans became the ninth president and CEO of the Federal Reserve Bank of Chicago, effective Sept. 1.

Evans, who holds both a master's and doctor's degree in economics from Carnegie Mellon, joined the Federal Reserve Bank of Chicago in 1991 and most recently served as its senior vice president and director of research. In that role, he coordinated all monetary policy support for the president and board of directors, and oversaw research into the conduct of monetary policy and the structure of the macro economy. He also oversaw the bank's Office of Consumer and Community Affairs and Office of Public Affairs.

In announcing Evans' appointment, Miles D. White, chairman of the bank's board of directors and CEO of Abbott Laboratories, cited Evans' "stewardship of the bank [as] exemplary during a period of significant change in both the economic environment and the financial services industry. He has provided the Chicago Fed with excellent leadership and has served the public well in helping maintain a strong and stable economy."

Evans is highly regarded for his research on inflation, financial market prices and measuring the effects of monetary policy on U.S. economic activity. His work has been published in the Journal of Political Economy, American Economic Review, Journal of Monetary Economics, Quarterly Journal of Economics and the Handbook of Macroeconomics.

Evans joins other Tepper School graduates and faculty affiliated with top financial institutions, including Allan Meltzer, founder of the Shadow Open Market Committee, advisor to Congress and author of a history of the Fed; Marvin Goodfriend, former senior staff economist for the Council of Economic Advisors and former senior vice president and policy advisor for the Richmond Fed; Chester Spatt, who recently completed a three-year term as chief economist and director of the Office of Economic Analysis for the Securities and Exchange Commission; and Finn Kydland and Edward Prescott, the most recent of the Tepper School's six Nobel Prize winners.