Federal Reserve Bank of Boston names a new president

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — The Federal Reserve Bank of Boston said Wednesday that it has chosen Susan M. Collins, an economist and administrator at the University of Michigan, as its next president. The selection of Collins, who will become the first Black person to serve as president of the Boston Fed, has already been approved by the Fed’s governing board. She is only the second Black American to be appointed a president of one of the Fed’s 12 regional banks. In that role, Collins will have a vote on the Fed’s interest rate decisions this year.