Dinsmore Will Chair Seattle Branch of Fed

Port of Seattle Chief Executive Officer M. R. Dinsmore has been appointed Chairman of the Seattle Branch of the Federal Reserve Bank of San Francisco. Dinsmore was first made a Director of the Seattle Branch in January. He succeeds past Chairman Boyd Givan, former CFO of the Boeing Company.

As the nation's central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers consumer protection laws and is a fiscal agent for the U.S. government.

The Seattle Branch Chairman and Directors oversee operations of the branch and influence monetary policy through recommendations on the District's discount rate. The Chairman and branch Directors meet monthly and report their observations on economic conditions in the region and the outlook for industries with which they are familiar. The reports are summarized and presented during meetings of the Board of Directors of the Federal Reserve Bank of San Francisco.

Mr. Dinsmore has been CEO of the Port of Seattle since 1992 and has spent his career in international trade and transportation. As CEO of the Port, he carries out the policies set by the Port of Seattle Commission and leads 1,700 employees at Seattle's Seaport and Seattle-Tacoma International Airport. His previous positions at the Port include Chief Operating Officer and Director of the Seaport Division.