UH President and Chancellor Renu Khator was recently named to the Indian Prime Minister’s Global Advisory Council. She also serves on the boards of the American Council on Education, the Greater Houston Partnership, the Texas Medical Center Policy Council and the Business Higher Education Forum, among her other responsibilities. | File Photo/The Daily Cougar
The Federal Reserve Bank of Dallas — a branch that covers Texas, northern Louisiana and southern New Mexico — recently announced that President and Chancellor Renu Khator has been appointed as its 2014 deputy chair.
“Each Federal Reserve Bank has a nine-member board, and every year the Fed’s board of governors appoints three of the local directors and designates a chair and a deputy chair,” according to the official release with the Fed.
Khator has served on the board since 2011, and will now be deputy chair under J.C. Penney Company Inc. Chief Executive Officer Myron E. Ullman III.
“The opportunity to now take on additional responsibility in my new position as deputy chair is very exciting,” Khator said in an email. “At the University of Houston, it is our policy to encourage faculty and staff members to reach out and play active roles in public service whenever possible. So, in this respect, my work on the Federal Reserve Bank of Dallas board is another example of our commitment at UH to such community participation.”
The members of each Board of Governors of the 12 national Federal Reserve Bank branches are chosen by a national Board of Governors, who are in turn appointed by the President of the United States.
“The Federal Reserve district boards of directors are made up of members who provide a wide variety of experiences and different insights into economic conditions,” Khator said.
“In my own case, my scholarly background in political science and public administration allows me to provide that particular perspective with respect to monetary policy. In addition, serving as president of a major state university has given me invaluable first-hand knowledge about the interaction of public, private and government interests.”
According to James Hoard of the Public Affairs Department with the Federal Reserve Bank of Dallas, the bank’s “grassroots” nature gives them a unique perspective on the economy, one that Khator can contribute to.
“As an educator, as an administrator of a university and a system, she’s in a good position to find out what’s going on in the economy and provide us that information,” Hoard said.
“And also she manages a very large, complex organization: the University and UH System. And so the board — particularly the chair, the deputy chair — they have oversight responsibilities, so they oversee the bank’s responsibilities, the budget, overall performance of the bank.”
The position is year-long, and Khator said she hopes the experience will strengthen her capabilities as a leader at the University.
The Federal Reserve was created in 1913. It is unconstitutional and dangerous. It has created the terrible inflation that we have experienced since then. The federal reserve gives money for nothing to the mega banks which charge enormous amounts of interest to people. End The FED!!!! STOP THE OLIGARCHS!