Monday, December 3, 2012

Chairman Appointed for NY Fed Board

The Federal Reserve on Monday appointed Metropolitan Museum of Art President Emily Rafferty as chair of the board of directors of the Federal Reserve Bank of New York in 2013.

Just what the Fed needs to turn the branch from an operating unit into a museum of sins past! Maybe she will be able to find the gold the Germans are looking for in the NY Fed vaults.


  1. I am not sure what qualifies her for a position at the NY FED. From a Crains New York profile of the most powerful women in NYC in 2007:

    Emily Rafferty is a Met lifer. She began her career in 1975 at the Metropolitan Museum of Art as a 25-year-old assistant in the development office. She worked her way up to run the Met's national and international fundraising operations, where she raised hundreds of millions of dollars and added thousands of members.

    Then, three years ago, she was named president, the No. 2 position at the museum. Today, 58-year-old Ms. Rafferty--the first woman to run the Met's day-to-day operations--oversees 2,000 employees, a $190 million annual operating budget and an $80 million merchandising business. She is close to wrapping up a $1 billion capital campaign.

    Ms. Rafferty's influence extends well beyond the Met. She has mentored dozens of museum professionals who have gone on to careers all over the country. Even now, she says, her employees are her top priority. "The thing I worry about the most is the health and well-being of the staff," says Ms. Rafferty, who grew up blocks from the Met. "Our people are what make this place come alive."

  2. Maybe she is there to commission a painting that looks like a vault full of gold so they can take a picture of it and send it to the countries overseas to put them at ease.