February 12, 2007

Federal Reserve Bank of Atlanta Names New President 
In a press release, the Board of Governors announced its selection of Dennis P. Lockhart as president and chief executive officer of the Federal Reserve Bank of Atlanta, effective March 1, 2007. Mr. Lockhart, currently a faculty member of Georgetown University's Walsh School of Foreign Service, succeeds Jack Guynn, who retired from the Atlanta Fed on Oct. 1, 2006.

Governor Bies Submits Resignation 
In a press release, the Board of Governors announced that Governor Susan Schmidt Bies submitted her resignation as a member of the Board of Governors of the Federal Reserve System, effective March 30, 2007. Bies, who has been a member of the Board since Dec. 7, 2001, submitted her resignation to President Bush, and plans to spend more time with her family.