David Wilcox was named director of the Federal Reserve Board's division of research and statistics. He will begin Oct. 1.
Wilcox is the deputy director of the division. He will succeed David Stockton, who is stepping down Sept. 30 after three decades at the Fed, including 11 as director. Wilcox will oversee more than 300 employees and will brief the Federal Open Market Committee on the outlook for the U.S. economy. Wilcox served on the Fed's staff from 1986 to 1997.
He also served on the staff of the President's Council of Economic Advisors in 1994 and 1995 and was assistant secretary for economic policy at the Treasury Department from 1997 to 2001 before returning back to the Fed.
