New York—Brian P. Sack, 38, has been named executive vice president of the Federal Reserve Bank of New York and head of the Bank's Markets Group. Mr. Sack succeeds William C. Dudley, who was named president and chief executive officer of the New York Fed on January 27, 2009. Mr. Sack's appointment was made by the Bank’s board of directors and is effective June 1, 2009.
“I am very pleased that Brian Sack will be joining the New York Fed as head of the Markets Group,” said President Dudley. “He brings to the Bank a unique understanding of the interplay of economics and finance and has a combination of real world experience and public service that will be invaluable to the New York Fed.”
Mr. Sack is currently a vice president at Macroeconomic Advisers and the deputy director of the Monetary Policy Insights service offered by that firm. In that capacity, Mr. Sack has conducted extensive analysis of the interactions between Federal Reserve policy actions, financial markets and the U.S. economy. Prior to joining Macroeconomic Advisers in 2004, Mr. Sack was the head of the Monetary and Financial Markets Analysis section at the Board of Governors of the Federal Reserve System. His responsibilities in that role included preparing and presenting materials on financial market developments to the Federal Open Market Committee and Board members. Mr. Sack has also published a number of research articles in top academic journals in the fields of economics and finance.
Mr. Sack received his Ph.D. in economics from the Massachusetts Institute of Technology in 1997 and a B.A. in mathematics and economics from the University of Vermont in 1992.Mr. Sack currently resides in Virginia with his wife and their two children.