5 out of 12 of the presidents of the Federal Reserve Banks in the country are women. 

Lorie Logan, who was an executive at the New York Federal Reserve Bank will be the first woman to occupy this position at the Dallas Fed and the 13th president. Her starting date is on August 22, according to Head’s Topic. 

She has been a member of the New York Fed since 1999. Her experience includes leading crises such as the 9/11 attack and the 2008 recession.

The Dallas Fed started a 7-month search for a new president because the former Rob Caplan retired after a stock trade controversy involving several regional presidents of the Federal Reserve Banks, according to The Dallas Morning News. 

She will represent the eleventh district spanning from Dallas to Southern New Mexico to Northern Louisiana, and oversee 1,200 employees. 

Richard Fisher, a former president of the Dallas Fed from 2005 to 2015, spoke to The Dallas Morning News about Logan “She’s very experienced, uber-smart, and given that her position is a key position in the Federal Reserve system, it’s a real feather in the Dallas Fed’s cap.” 

Lorie Logan will begin her position in a rough time, the inflation is up to 2% and president Biden has urged the Federal Reserve Banks to address the problem. The Fed is implementing a series of interest rate hikes to reduce price increases but it hasn’t shown results yet. 

Before the announcement, the Democrats were pushing the Dallas Fed to appoint its first Latino president, but the members of the chair decided that Lorie Logan fit best the profile. Former President Richard Fisher said that the Federal Reserve Bank doesn’t respond to political pressure.

The 12 Federal Reserve Banks along with the board of governors in Washington D. C. make up the Nation’s Central Bank