Shorenstein named SF Federal Reserve Bank chairman

July 19, 2010 12:00:00 AM PDT
Douglas Shorenstein has been named Chairman of the San Francisco Federal Reserve Bank for next year.

Shorenstein is the son of the late Walter Shorenstein and is the chief executive of the real estate empire his dad founded.

Shorenstein is one of eight directors who oversee federal monetary policy throughout the western United States. They rotate the chairmanship every year.