“It has been both a privilege and an honor to be part of the St. Louis Fed for the last 33 years, including serving as its president for the last 15 years,” Bullard said in a statement released Thursday afternoon. Bullard is leaving on August 14 to become the inaugural dean of Purdue University’s Mitchell E. Daniels, Jr. School of Business.
With the exception of the president of New York Fed, four regional bank presidents from the remaining 11 branches serve one-year terms on the Federal Open Market Committee on a rotating basis. Seven Fed Board of Governor members, including Fed Chair Jerome Powell, hold permanent votes. After completing his 2022 term, Bullard did not vote on monetary policy decisions this year and won’t be participating in the central bank’s July 25-26 meeting.
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