John C. Williams has been reappointed as president of the Federal Reserve Bank of New York, and Sushmita Shukla will continue as first vice president. Their new five-year terms will begin on March 1, 2026. The decision was made unanimously by eligible members of the New York Fed’s board of directors and subsequently approved by the Board of Governors of the Federal Reserve System.
Certain directors from Class A and some from Class B were not allowed to participate in the reappointment process due to sector affiliations. The eligible directors involved included Adena Friedman, Arvind Krishna, Scott Rechler, deputy chair Dr. Rajiv Shah, chair Pat Wang, and Patricia White.
These directors met several times to evaluate the performance of Williams and Shukla. They conducted interviews with various stakeholders inside and outside the Federal Reserve System.
Pat Wang commented on behalf of the board: “The Directors believe John and Sushmita are outstanding individuals of the highest integrity and talent who have performed extraordinarily well in their responsibilities at the Federal Reserve Bank of New York. They are also making critically important contributions to the mission and goals of the System overall,” Wang said. “Their commitment to understanding economic conditions across the New York Fed’s district while also driving significant efforts on behalf of the System is exemplary. The Second District is fortunate to have their leadership.”
Details about how Reserve Bank presidents are reappointed can be found on the official Federal Reserve website at http://www.federalreserve.gov/faqs/what-is-the-process-for-reappointing-reserve-bank-presidents.htm. Information about the New York Fed’s Board of Directors is available at https://www.newyorkfed.org/aboutthefed/org_nydirectors.html.