As chair of the board of directors of the Federal Reserve Bank of Minneapolis and dean of a leading business school, I strongly believe that the Minneapolis Fed is a force for good.
Its power rests on two pillars: public trust and public outreach. This past year marked a giant step forward in the Minneapolis Fed’s outreach efforts, which are highlighted throughout this 2019 Annual Report.
As the calendar turned from 2019 to 2020, with all of us facing unprecedented economic and public health challenges, there is nothing more important to the Minneapolis Fed than earning the public’s trust. This process began under former General Mills CEO Ken Powell, whom I’m proud to have succeeded as Minneapolis Fed board chair, and it’s been led by President Neel Kashkari, First Vice President Ron Feldman, and their remarkable senior leadership team.
From the Bank’s day-to-day work of supervising and regulating financial institutions across our six-state district to our long-standing commitment to world class economic research to our fundamental role of helping to set monetary policy, this is an extraordinary and relevant organization. On behalf of our board, I want to extend our thanks to our advisory councils and our gratitude to all of the employees, who embrace their role as public servants in all they do.
Our board of directors is dedicated to helping shepherd our mission to the citizens and banking institutions of the Ninth Federal Reserve District. I feel strongly that this past year confirmed that, and I look forward to building on that trust during the challenges of 2020.