Lorie K. Logan is an executive vice president in the Markets Group of the Federal Reserve Bank of New York, manager of the System Open Market Account (SOMA) for the Federal Open Market Committee (FOMC), and head of Market Operations, Monitoring, and Analysis (MOMA). Ms. Logan’s responsibilities include the execution of monetary policy at the direction of the FOMC, provision of fiscal agent services to the U.S. Treasury Department in support of debt issuance and foreign exchange operations, management of several facilities established under Section 13(3) of the Federal Reserve Act, analysis of global financial market developments, and production of the New York Fed’s reference rates, including the Secured Overnight Financing Rate (SOFR). Ms. Logan is also the senior New York Fed representative on several public-private committees advancing industry best practices, including the Treasury Market Practices Group (TMPG), the Alternative Reference Rates Committee (ARRC), and the Foreign Exchange Committee (FXC).
Ms. Logan played a prominent role in the development and implementation of the Federal Reserve’s Great Financial Crisis-era policies, including the expansion of the Federal Reserve’s balance sheet and the creation of liquidity facilities to mitigate systemic risks to the financial system. She was instrumental in the development of the Federal Reserve’s policy normalization tools, including the establishment of the overnight reverse repo facility, and the long-run monetary policy implementation framework. Ms. Logan’s public speeches and publications have focused on monetary policy implementation and central bank balance sheets, lender of last resort programs, reference rate reform, and market best practices.
Ms. Logan joined the New York Fed in June 1999 in the Policy and Analysis function in Bank Supervision. In 2000, she joined the Markets Group, where she has held successive leadership roles, including chief of staff and co-head of MOMA. Ms. Logan has been the head of MOMA since 2014.
Ms. Logan holds a bachelor’s degree in political science from Davidson College and a master’s degree in public administration from Columbia University.