Chief adviser to rate-setting panel to retire, following 30 years of Fed service

A long-time Federal Reserve staff member, and now director of the agency’s research division who keeps the rate-setting policy group at the central bank apprised of the latest developments in the economy, will retire at year’s end, the agency said Monday.

David W. Wilcox, director of the Fed’s Division of Research and Statistics, will leave the agency after 30 years, including seven years as director of the division, the central bank said. In that role, he has been responsible for briefing the Fed’s Federal Open Market Committee (FOMC) on the outlook for the U.S. economy. The division he heads engages in economic analysis, forecasting, and research related to the domestic economy and financial markets.

According to the Fed, the division also conducts several major programs in economic measurement and provides research and analysis supporting the Fed’s financial stability responsibilities and supervisory and regulatory activities.

The agency noted that before being named division director in July 2011, Wilcox served on the board staff from 1986-97 in a variety of assignments spanning economic forecasting, economic measurement, monetary policy formulation, and other topics.

In 1997, he resigned from the board staff to serve as Treasury assistant secretary for economic policy. He returned to the Fed staff in 2001 as deputy director of the Division of Research and Statistics.

During 1994 and 1995, he was detailed to serve on the staff of the President’s Council of Economic Advisers, the Fed noted.

David W. Wilcox, director of the Division of Research and Statistics, to retire at year end