Collins takes office as Boston Fed’s new president and CEO
Macroeconomist and administrator joins with focus on Fed’s mandate and priorities
Susan M. Collins began her tenure as Federal Reserve Bank of Boston president and CEO on Friday, becoming the 14th top leader in the institution’s 108-year history. She is the second female and the first person of color to hold the Boston Reserve Bank’s top job.
“I’m honored to take on this new role and the tremendous responsibility it carries, especially at such an important time for the U.S. economy. I’m eager to join my colleagues in analysis of the critical policy issues for the Fed and the economy,“ she said. “And I am looking forward to getting out to each of the six New England states to listen and learn from a wide range of stakeholders about the economic conditions they experience in the region.”
Collins is an international macroeconomist with a lifelong interest in policy and its impact on living standards. She has published widely and served as a provost, dean, professor, research scholar, and board member at a variety of universities and organizations, including the Federal Reserve Bank of Chicago where she served as a director for nine years.
Collins was appointed by the non-banker members of the Boston Fed’s Board of Directors, and approved by the Federal Reserve System’s Board of Governors, in February. She joins the Bank following 15 years at the University of Michigan, where she most recently served as provost and executive vice president for academic affairs, after leading the university's Gerald R. Ford School of Public Policy as dean.
In 2022 Collins will be a voting member of the Federal Open Market Committee, or FOMC, the monetary policymaking body of the Federal Reserve System. She will attend her first FOMC meeting on July 26. She succeeds Eric Rosengren, who retired last fall after 35 years at the Boston Fed, including his last 14 as president. Since that time the Bank has been led by interim president and CEO Ken Montgomery, who is the Bank’s first vice president and COO.
Collins earned a Ph.D. in economics at the Massachusetts Institute of Technology after graduating from Harvard University with a bachelor’s degree in economics. Her published research has focused on the determinants of economic growth and exchange rate regimes, and the implications for economic performance. She has also explored the implications of global integration for U.S. labor markets, persistent macroeconomic imbalances, and countries' economic transformations.