The Federal Reserve Bank of Boston announced Susan Collins, provost and executive vice president for academic affairs at the University of Michigan, will become its next president effective July 1.
Former President Eric Rosengren left the Bank last fall for health reasons.
Kenneth Montgomery has served as interim president. Collins’ term will extend through February 28, 2026, although reappointment is possible.
Collins will be the first Black woman to head a Federal Reserve Bank.
“Collins is an international macroeconomist with a lifelong interest in policy and its impact on living standards,” according to a release from the Boston Fed. “She has published widely and served as a provost, dean, professor, research scholar, and board member at a variety of organizations.”
Collins said it is “an honor and an inspiration” to head the Bank. “Throughout my career, I have been driven by a commitment to leveraging research, education, and public service to improve lives. I look forward to helping the Bank and System pursue the Fed’s dual mandate from Congress — achieving price stability and maximum employment.”
The head of the search committee, Christina Paxson, said, “Dr. Collins brings the technical expertise and insight to contribute to policymaking and the leadership ability to head the organization.”
Besides a commitment to serving the public, she said, Collins “has also advanced diversity, equity, and inclusion through her work with the American Economic Association, the Ford School, and the University of Michigan."
