The Class B and C directors of the Minneapolis Fed (those directors not affiliated with a supervised entity) formed a committee to conduct a rigorous, nationwide search to identify a broad, diverse, highly qualified candidate pool for this position. In addition, the search firm Spencer Stuart was hired to assist in the process. (For further information about the search process, visit our website.)
Feldman’s appointment was made by Class B and C directors of the Federal Reserve Bank of Minneapolis and approved by the Board of Governors of the Federal Reserve System in Washington, D.C.
As first vice president, Feldman will lead and oversee the day-to-day operations of the Minneapolis Fed, including all operating and support function activities at the corporate headquarters in Minneapolis and its Branch in Helena, Mont. He also serves as backup to the Minneapolis Fed president in the execution of his duties, including his monetary policy responsibilities.
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, praised the appointment, saying, “Ron is a recognized leader and will now serve in a critical role to help advance our strategic priorities at the Minneapolis Fed. He has a wealth of experience and has made many significant contributions to the Federal Reserve System across a wide range of areas. I look forward to his continued leadership at the Minneapolis Fed.”
MayKao Y. Hang, chair of the Minneapolis Fed’s board of directors and president and CEO of the Amherst H. Wilder Foundation, echoed Kashkari’s comments, saying, “On behalf of the board of directors, I couldn’t be more pleased with the appointment of Ron as our next first vice president. Ron’s dedication to service, his excellent management skills and his leadership will greatly benefit the Minneapolis Federal Reserve Bank in this important role.”
Feldman joined the Federal Reserve Bank of Minneapolis in 1995 in the Banking Supervision Department. He has since held several positions of increasing responsibility. He became a senior vice president in 2008 and executive vice president in 2013. In addition, Feldman oversaw the Financial Services Support Office, which assists in the oversight of the Federal Reserve’s financial services.
Feldman has published research on a wide array of banking and financial topics. He is the co-author of Too Big to Fail: The Hazards of Bank Bailouts, published by the Brookings Institution (2004).
He is active in the Minneapolis community, having served as a board member of a local neighborhood association and a local synagogue.
Feldman has a B.A. from the University of Wisconsin and an M.P.A. from Syracuse University.
The Federal Reserve Bank of Minneapolis is one of 12 regional Reserve Banks that, with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the nation’s central bank. The Federal Reserve Bank of Minneapolis is responsible for the Ninth Federal Reserve District, which includes Montana, North and South Dakota, Minnesota, northwestern Wisconsin and the Upper Peninsula of Michigan. The Federal Reserve Bank of Minneapolis participates in setting national monetary policy, supervises numerous banking organizations, and provides a variety of payments services to financial institutions and the U.S. government.