Anna Nordstrom Appointed as Permanent Head of the Federal Reserve Bank of New York’s Markets Group

By Michael S. Derby

(Reuters) – On Monday, Anna Nordstrom was appointed the permanent head of the Federal Reserve Bank of New York’s Markets Group, effective immediately, as announced in a press release by the bank.

Nordstrom, who has been with the New York Fed since 2008, was serving as the interim leader of the Markets Group since December after Michelle Neal’s resignation earlier this year.

Before this role, she was the Head of Domestic and International Markets within the Markets Group since 2023 and led the New York Fed’s International Markets function for 15 years. She has also held positions at notable institutions like the European Central Bank, the International Monetary Fund, and the Central Bank of Sweden.

New York Fed President John Williams praised Nordstrom as a dedicated public servant with a strong understanding of financial markets and central banking. The Markets Group is responsible for overseeing critical operations, including the implementation of monetary policy and managing the Fed’s $6.8 trillion balance sheet.

Currently, Nordstrom steps into her role amid various challenges facing the Fed, including pressure from President Donald Trump to lower interest rates even with inflation above the 2% target. Concurrently, political developments are causing volatility in financial markets, leading to concerns about potential Fed interventions. However, central bankers, including Chairman Jerome Powell, have noted that trading remains orderly despite recent price declines, reducing the likelihood of immediate emergency actions.