St. Louis Fed's Poole Accepts Positions at Cato Institute, University of Delaware

ST. LOUIS, March 25 /PRNewswire/ -- William Poole, president of the Federal Reserve Bank of St. Louis, has accepted positions at the Cato Institute in Washington, D.C., and the University of Delaware in Newark, Del.

Poole is retiring as St. Louis Fed president as of March 31. Dr. James B. Bullard, currently the St. Louis Bank's deputy director of research for monetary analysis, has been appointed to succeed Poole, effective April 1.

Poole is joining the Cato Institute, a nonprofit public policy research foundation, as a senior fellow. He will begin his duties there in the fall of 2008. "I've been a longtime admirer of the Cato Institute's work," Poole said. "It's an honor to join their staff. Their efforts at broadening public policy debate to promote consideration of free markets, individual liberty, limited government and peace are ones I greatly admire. I look forward to participating in those efforts."

Poole's appointment at the University of Delaware as a distinguished scholar in residence also begins this coming fall semester. Conrado (Bobby) M. Gempesaw, dean of the university's Lerner College of Business and Economics, said, "We are very pleased that Bill Poole will join us as a distinguished scholar in residence in the Department of Economics. He has been one of the more prominent and influential voices in setting our nation's monetary policy during the past decade. Our students and faculty are very fortunate to be given the opportunity to interact with Bill Poole."

Poole will retire from the St. Louis Fed after serving 10 years.

The Federal Reserve Bank of St. Louis is one of 12 regional Reserve Banks and serves the Eighth Federal Reserve District. The regional Reserve Banks, along with the Board of Governors in Washington, D.C., constitute the Federal Reserve System. As the nation's central bank, the Fed is responsible for conducting monetary policy, supervising banks and operating the nation's payments mechanism. Poole has directed the activities of the Bank's head office in St. Louis as well as its three branches in Little Rock, Ark., Louisville, Ky., and Memphis, Tenn.

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Source: Federal Reserve Bank of St. Louis

CONTACT: Joe Elstner, +1-314-444-8902, Mobile, +1-314-640-3526,
joseph.c.elstner@stls.frb.org, or Charles B. Henderson, +1-314-444-8311,
Mobile, +1-314-609-5972, charles.b.henderson@stls.frb.org, both of Federal
Reserve Bank of St. Louis

Web site: http://www.stlouisfed.org/

2008-03-25 09:41:08 0319591 PRNEWSWIRE