The Federal Reserve Bank of Boston has a new chairman, William C. Brainard, and deputy chairman, William O. Taylor.

Mr. Brainard is Arthur M. Okun professor of economics at Yale University. He had been elected a class C director at the Boston Fed in 1995.

Mr. Taylor is chairman and chief executive of Globe Newspaper Co., publisher of The Boston Globe. He was elected a class C director last Januaury.

James J. Norton, Edward Dugger 3d, and Edwin N. Clift were all elected as directors of the Boston Fed.

Mr. Norton, a class C director, is president of the Graphic Communications International Union. Mr. Dugger, a class B director, is president and CEO of UNC Ventures. Mr. Clift, a class A director, is president and CEO of Merrill Merchants Bank of Bangor, Maine.

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