The Federal Reserve Bank of Atlanta announces the designation of Claire Lewis Arnold as the 2024 chair of its board of directors and Gregory A. Haile as the 2024 deputy chair. Haile was reappointed by the Board of Governors to a three-year term beginning January 1, 2024, and ending December 31, 2026. Both are Class C directors, designated by the Board of Governors. Arnold is chief executive officer of Leapfrog Services Inc. in Atlanta, a managed service provider she cofounded in 1998. She is a graduate of Mary Baldwin College in Virginia. Haile recently served as president of Broward College in Fort Lauderdale, Florida, and is a graduate of Columbia University School of Law and Arizona State University.

Additionally, William Y. Carroll Jr. was elected by Group 2 member banks to an unexpired term beginning January 1, 2024, and ending December 31, 2024, and to an additional three-year term ending December 31, 2027. He is a Class A director. Carroll is president and chief executive officer of SmartBank in Pigeon Forge, Tennessee. He serves as vice chair of the Tennessee Bankers Association and is a graduate of the University of Tennessee.

Michael E. Longo has been elected by Group 2 member banks to a three-year term beginning January 1, 2024, and ending December 31, 2026. He is a Class B director. Longo is president and chief executive officer of Hibbett Inc. in Birmingham, Alabama. He is a graduate of the United States Military Academy at West Point and Harvard University.

The remaining Atlanta Fed directors are:

• Cynthia N. Day, president and chief executive officer of Citizens Trust Bank in Atlanta (Class A, term expires December 31, 2025),

• James O. Etheredge, special adviser to the chief executive officer of Accenture North America in Atlanta (Class C, term expires December 31, 2025),

• Nicole B. Thomas, president of Baptist Medical Center Jacksonville in Jacksonville, Florida (Class B, term expires December 31, 2025),

• Rajinder P. Singh, chairman, president, and chief executive officer of BankUnited Inc. in Miami Lakes, Florida (Class A, term expires December 31, 2026), and

• Michael Russell, chief executive officer of H.J. Russell & Company in Atlanta (Class B, term expires December 31, 2024).

The Atlanta board of directors has reappointed John M. Turner Jr. to serve on the Sixth District Federal Advisory Council for a one-year term beginning January 1, 2024, and ending December 31, 2024. Turner is president and chief executive officer of Regions Financial Corporation in Birmingham, Alabama. He is a graduate of the University of Georgia.

Each of the nation's 12 Federal Reserve Banks has a nine-member board of directors. Three Class A directors are generally bankers and elected by national and state-chartered banks that are members of the Federal Reserve System. Three Class B directors are also elected by these banks but represent commerce, industry, agriculture, labor, and consumers. Three Class C directors represent the same broad array of public interests but are appointed by the Board of Governors in Washington, DC. The Reserve Bank's chair and deputy chair must be Class C directors.

The board of directors of the Federal Reserve Bank of Atlanta oversees the management of the bank's operations and recommends changes in the discount rate. Board members also contribute to the formulation of US monetary policy through the economic information they provide the bank's president.