NEW NY FED HEAD
Was encouraged to see this bit of news on the economic front, which is more than one can say on most days these days. As the New York Times explains:
"Within the byzantine corridors of the Federal Reserve Bank of New York, William C. Dudley is a consummate insider. From his small office near rows of flickering trading screens, he has quietly orchestrated the central bank’s response to the crisis in the financial markets.
Now Mr. Dudley, an economist with a knack for reading the markets, is stepping into the spotlight as the Fed’s senior statesman on Wall Street. On Tuesday, Mr. Dudley, 56, was appointed to succeed Timothy L. Geithner, the new Treasury secretary, as president of the New York Fed.
Analysts said Mr. Dudley, a former chief economist at Goldman Sachs, is up to the task. At Goldman and at the Fed, he has forged strong relationships within the financial community and in Washington. Many praise his pragmatism."
As someone who's had an opportunity to work with Bill for a number of years at Goldman Sachs, I'll join in the praise. It's good to see someone of his caliber appointed to this post in particular at this critical times. Good luck, Bill.