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For immediate release Jan. 6, 1998

ATLANTA FED ANNOUNCES TWO PROMOTIONS

Tom Cunningham was promoted to vice president in the research department at the Federal Reserve Bank of Atlanta effective Jan. 1, announced Jack Guynn, president and chief executive officer of the Atlanta Fed. Guynn also announced the promotion of Mary McCormick to assistant vice president at the Atlanta Fed's Birmingham branch, also effective Jan. 1.

Cunningham is responsible for the Bank's regional research group, which monitors and collects data on the southeastern region's economy. McCormick has responsibility for the Birmingham branch's payment services function, which includes check collection and electronic check services.

Cunningham began his career with the Atlanta Fed as an economist with the macropolicy group in 1985. He has served as research officer and senior economist at the Bank since 1992. He previously worked as an instructor of economics at Barnard College at Columbia University.

He received a bachelor's degree, summa cum laude, in economics from California State University, Fresno. He earned a master of arts degree, a master of philosophy degree and a doctor of philosophy degree, all in economics, from Columbia University.

McCormick began her career with the Miami Branch of the Atlanta Fed in January 1989. She transferred to the Atlanta Branch in July 1995 and was promoted to director in financial services in 1996. McCormick received her bachelor's degree in finance from Florida State University.

The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which encompasses Alabama, Florida, Georgia and parts of Louisiana, Mississippi and Tennessee. As part of the nation's central banking system, the Atlanta Fed takes part in setting national monetary policy, supervises numerous commercial banks and provides a variety of financial services to depository institutions and the U.S. government.

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