president and CEO of Crayola LLC,<\/a> has been appointed as a Class B director. Class B directors are members of the public that bring diverse economic perspectives to the board and cannot be a bank officer or employee.<\/p>\nRuggiero will serve a three-year term and serve on the executive committee and management and budget committee.<\/p>\n
The Philly Fed\u2019s nine-member board oversees bank operations, offers observations on economic conditions, establishes the bank\u2019s discount rate and is a link between the Federal Reserve and the communities in the Third District, which includes eastern Pennsylvania, southern New Jersey and Delaware.<\/p>\n
While the Philly Fed is part of the U.S. central banking system, interest rates are set by the Federal Open Market Committee. It consists of the Fed\u2019s Board of Governors, the New York Fed President and four rotating Reserve Bank presidents. Philadelphia President Anna Paulson is a member for this year\u2019s term.<\/p>\n
Ruggiero, a Slate Belt native, was promoted from chief operating officer to CEO of Crayola in April 2024, bringing more than 25 years of experience with the Forks Township arts and crafts giant. He graduated from Pen Argyl High School, earned a Master of Business Administration from Lehigh University and graduated with an accounting degree from Villanova University.<\/p>\n","protected":false},"excerpt":{"rendered":"A Lehigh Valley businessman has been appointed to the Federal Reserve Bank of Philadelphia\u2019s board of directors. Pete…\n","protected":false},"author":2,"featured_media":86526,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[60,38197,182,139,434,43265,28,69,71,70,432],"class_list":{"0":"post-86525","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-philadelphia","8":"tag-business","9":"tag-forks-township","10":"tag-local-news","11":"tag-news","12":"tag-northampton-county","13":"tag-pen-argyl","14":"tag-pennsylvania","15":"tag-philadelphia","16":"tag-philadelphia-headlines","17":"tag-philadelphia-news","18":"tag-top-stories-tmc"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/86525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=86525"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/86525\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/86526"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=86525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=86525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=86525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}