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For immediate release June 4, 1998

DWYER PROMOTED TO VICE PRESIDENT

Gerald P. Dwyer Jr. has been promoted to vice president responsible for the finance team in the research department at the Federal Reserve Bank of Atlanta, announced Jack Guynn, president and chief executive officer of the Atlanta Fed.

Dwyer was promoted to assistant vice president of the finance team in 1997. Prior to this promotion, he was a visiting scholar and a professor in the economics department at Clemson University. He served as acting head of the economics department at Clemson University from 1992 to 1993 and previously taught at the University of Houston, Emory University and Texas A&M University. He has also served as a visiting scholar at the Federal Reserve Banks of St. Louis and Minneapolis, and he has served as an economist at the Federal Reserve Bank of Chicago.

Dwyer holds a bachelor's degree in business, government and society from the University of Washington, a master's degree in economics from the University of Tennessee, and a Ph.D. in economics from the University of Chicago.

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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