Former N.Y. Fed President McDonough dead at 83

Former Federal Reserve Bank of New York president and chief executive officer William J. McDonough died Monday, Jan. 22, at his home in Waccabuc, N.Y., the Fed announced Thursday.

Former Federal Reserve Bank of New York president and chief executive officer William J. McDonough
WASHINGTON, DC. - 10/18/04: William McDonogh, chairman and CEO of the Public Accounting Oversight Board, speaks during the America's Community Bankers' 2004 Annual Convention 19 October, 2004 in Washington, DC. The group is a member driven trade associated of community based bankers. (Photo by Brendan SMIALOWSKI/Bloomberg News)

The eighth president of the New York Fed, serving from 1993-2003, was 83.

McDonough’s tenure included the terrorist attack on the World Trade Center on September 11, 2001, the Fed noted. “Beyond the devastating impact on the people of New York and the physical infrastructure supporting the financial markets, the attack caused an immediate liquidity crisis to which the New York Fed responded, working quickly to ensure that financial markets could reopen,” it said in a statement.

McDonough is survived by his wife, Suzanne Clarke McDonough, six children and 10 grandchildren.

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Obituaries Federal Reserve Federal Reserve Bank of New York FOMC
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