Alum Charles L. Evans was named the new president of the Federal Reserve Bank of Chicago, succeeding Michael H. Moskow, who retires Aug. 31, after 13 years as president. Evans, who received both his Ph.D. (1989) and M.S. (1985) degrees in Economics from Carnegie Mellon University, will become the bank's ninth president and CEO, effective September 1.
Evans, 49, is currently senior vice president and director of research at the Chicago Fed, where he also oversees the bank's Office of Consumer and Community Affairs and its Office of Public Affairs. He joined the bank in 1991 and has been director of research since 2003, coordinating all monetary policy support for the president and the board of directors, with responsibility for research into the conduct of monetary policy and the structure of the macroeconomy.
"After a comprehensive search in which we interviewed several excellent candidates, we decided that Charlie is best qualified to lead the Federal Reserve Bank of Chicago," said Miles D. Davis, CEO of Abbot Laboratories and chairman of the bank's board of directors, in an announcement by the bank. "He has excellent leadership skills, knows the Federal Reserve System well, and has participated at the highest level of the monetary policy-making process."
The announcement also touted Evans' respected research on inflation, financial market prices and measuring the effects of monetary policy on U.S. economic activity, noting that his research 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 is married and has two children, 14 and 19.