The board of directors of the Federal Reserve Bank of Philadelphia today announced that Patrick T. Harker, 56, currently president of the University of Delaware and a member of the Philadelphia Fed's board of directors, has been named the 11th president and chief executive officer of the Philadelphia Fed, effective July 1, 2015. The appointment was jointly approved by eligible directors of the Philadelphia Fed's board of directors, all nonbankers by law, and the Board of Governors of the Federal Reserve System in Washington, D.C. As president of the Philadelphia Fed, Harker will participate on the Federal Open Market ... (full story)