The search is underway for the next president and CEO of the Federal Reserve Bank of Philadelphia.
The new president and CEO will succeed Patrick T. Harker who is leaving his position on June 30, 2025, in accordance with Federal Reserve mandatory age and length of service policies.
“President Harker has done an excellent job leading the Philadelphia Fed and representing the Third District within the Federal Reserve System throughout the last decade,” Anthony Ibargüen, who is heading the search committee, said. “We will run an open and inclusive nationwide search including broad input from the Third District community. Our goal is to find a new leader who will carry on President Harker’s service to our communities and commitment to promoting a strong U.S. economy.”
The committee will identify a pool of candidates consistent with Federal Reserve policies and the Federal Reserve Act.
Only directors not affiliated with regulated banks or financial institutions are eligible under the law to help select a Federal Reserve Bank president, and the Federal Reserve’s Board of Governors must approve the committee’s choice.
The Philadelphia Fed president, as a member of the Federal Reserve System’s Federal Open Market Committee, helps shape monetary policy and is responsible for bank supervision, payment services, and community engagement.