[Congressional Record Volume 169, Number 17 (Thursday, January 26, 2023)]
[Extensions of Remarks]
[Page E58]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




RECOGNIZING ESTHER GEORGE'S RETIREMENT FROM THE FEDERAL RESERVE BANK OF 
                              KANSAS CITY

                                 ______
                                 

                          HON. EMANUEL CLEAVER

                              of missouri

                    in the house of representatives

                       Thursday, January 26, 2023

  Mr. CLEAVER. Mr. Speaker, it is with a profound sense of gratitude 
that I rise today to celebrate the decades-long career of Esther 
George, who has served as the President and CEO of the Federal Reserve 
Bank of Kansas City since October 2011. Having made the Federal Reserve 
Bank her professional home since 1982, Esther has dedicated 40 years to 
helping ensure the financial well-being of the United States. With her 
retirement nearing, let us take a moment to reflect on Esther's 
illustrious career and her efforts to steer our country's economy 
through periods of historic uncertainty.
  Born on January 15, 1958, in Faucett, Missouri--a rural farming 
community in the northwestern part of the state--Esther remembers 
getting paid 25 cents an hour while working on her family's plot of 
land. After learning about an opportunity for high school students to 
study abroad in France, Esther secured a loan from a bank in St. 
Joseph, Missouri to cover the costs of the foreign exchange program. 
Representing her first meaningful visit to a local bank, this 
experience sparked Esther's lifelong interest in banking, and she soon 
began working at the institution while still in high school. While 
earning her degree in Business Administration from Missouri Western 
State University, Esther continued to work at the bank that had helped 
facilitate her trip to France, thereby expanding her knowledge of 
community banking while gaining an even deeper appreciation for the 
ways in which well-run banks can empower everyday people. Making use of 
another bank loan, Esther returned to Europe during her college years 
to study the finer points of international banking.
  Made aware of job openings at the Federal Reserve Bank of Kansas City 
through a newspaper ad, Esther joined the Bank on April 5, 1982, as a 
bank examiner trainee. At the time of her hiring, the banking industry 
was going through a period of relative stability. This smooth sailing, 
however, gave way to rough and stormy seas when the failure of a bank 
in Oklahoma City initiated a financial crisis whose waves of volatility 
crashed most violently against the Federal Reserve's 10th District, 
where Esther had begun working just 3 months earlier. This baptism by 
fire made clear the importance of the Federal Reserve's role in 
safeguarding America's financial system, and Esther quickly began 
rising up the ranks. Promoted 3 times by 1984, the young banker worked 
tirelessly to lessen the impacts of this financial storm.
  Esther went on to earn an MBA from the University of Missouri-Kansas 
City in addition to graduating from the American Bankers Association 
Stonier Graduate School of Banking and the Stanford Graduate School of 
Business. Esther held leading positions within the Bank's research, 
public affairs, and human resources departments before taking the reins 
of the Bank's Division of Supervision and Risk Management in August 
2001, making her the chief regulator of the Federal Reserve's 10th 
District. In this role, Esther oversaw the regulation of the District's 
200 state-chartered member banks along with 1000 bank and financial 
holding companies. Following the terrorist attacks on September 11, 
2001, Esther's responsibilities took on even greater significance as 
our country's financial system was made to appear vulnerable. Once 
again, Esther rose to the occasion and did her part in minimizing the 
harm inflicted to America's economy.
  In 2009, Esther became the Bank's Chief Operating Officer and assumed 
additional duties as the Director of the Federal Reserve's Division of 
Banking Supervision and Regulation at the Board of Governors in 
Washington, D.C. With the United States in the grips of the Great 
Recession, Esther answered the call to offer her wisdom and expertise 
to a weary nation. And in 2011, Esther was appointed President of the 
Federal Reserve Bank of Kansas City. In this position, Esther has 
overseen the 10th District of the Federal Reserve, which includes 
western Missouri, Kansas, Nebraska, Oklahoma, Colorado, Wyoming, and 
northern New Mexico. Leading a team of over 2000 employees at the 
Bank's Kansas City office and Branch offices in Denver, Oklahoma City, 
and Omaha, Esther has helped shape our country's monetary policy, 
supervised financial institutions, and provided payment and financial 
services to depository institutions and the U.S. Treasury. Notably, the 
10th District's workforce has more than doubled since Esther took 
command in 2011--a testament to her vision and leadership capabilities. 
Moreover, as a voting member of the Federal Open Market Committee, 
Esther has consistently stood out as an independent voice of reason 
during monetary policy deliberations.
  Esther has participated in the Bank for International Settlements' 
Financial Stability Institute programs in countries all around the 
world, and as the host of the Federal Reserve Bank of Kansas City's 
annual Jackson Hole Economic Symposium, Esther has used her influence 
to ensure that women are afforded equal opportunities to offer their 
insights on pressing economic matters.
  Mr. Speaker, please join me in applauding Esther George in 
recognition of 40 years of public service at the Federal Reserve Bank 
of Kansas City. On behalf of the 118th Congress, I wish Esther a joyous 
retirement.

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