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Rajiv Shah appointed to New York Fed board
Shah will represent the interests of the public on the New York Fed's board of directors.
The Federal Reserve Bank of New York has announced the appointment of Dr. Rajiv Shah, president of the Rockefeller Foundation, as a Class C director. The appointment, effective for a three-year term concluding on December 31, 2026, designates Shah to represent the interests of the public on the New York Fed's Board of Directors.
Shah has been at the helm of the Rockefeller Foundation, a philanthropic organization dedicated to advancing the well-being of individuals globally, since 2017. Before that, he founded and managed Latitude Capital, a private equity firm focusing on African and Asian infrastructure and energy projects.
The Indian American has served as the head of the United States Agency for International Development (USAID) from 2009 to 2015, where he played a key role in U.S. responses to the 2010 Haiti earthquake and the 2014 West African Ebola pandemic. He also secured bipartisan support for significant legislation, including the Global Food Security Act and the Electrify Africa Act.
Prior to USAID, he held roles at the United States Department of Agriculture and the Bill & Melinda Gates Foundation, where he contributed to the creation of the International Financing Facility for Immunization.
A graduate of the University of Michigan, Shah holds degrees from the University of Pennsylvania School of Medicine and the Wharton School of Business. He has served as a distinguished fellow in residence at Georgetown University and has been recognised with the Secretary of State’s Distinguished Service Award and the U.S. Global Leadership Award.
The New York Fed's Board of Directors are classified as Class A, representing member banks; Class B, and Class C, representing the public. Acting as a crucial bridge between the Federal Reserve and the private sector, these directors ensure that monetary policy decisions are grounded in real economic conditions.
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