PROVIDENCE – One of the state’s top higher education leaders and a liaison to the business community has been named to the Federal Reserve Bank of Boston’s board of directors.
Meghan Hughes, the president of Community College of Rhode Island, was elected to the board as of Jan. 1, the Boston Fed announced on Jan. 10. Hughes, who also served as chairwoman of the Greater Providence Chamber of Commerce’s board of directors, was chosen by Federal Reserve member banks in New England region.
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As one of nine members of the board of directors, she said she hopes to act as a liaison between the Rhode Island business community and monetary policymakers, sharing insights about the economic challenges and conditions facing the Ocean State.
“Our role is to bring forward the economic conditions and climate in our region,” she said.
Hughes is the only Rhode Island member of the board, and one of two new members elected as of Jan. 1. Brown University President Christina Paxson previously served on the board as a member, and later as its chairperson in 2021, PBN previously reported.
While both Hughes and Paxson each represent Rhode Island higher education institutions, Hughes said her perspective is much different than that of Paxson’s.
“What we share is less because our space within higher education and more because we are both quite engaged with the Rhode Island business community,” Hughes said.
Nicolas Brancaleone, a spokesperson for the Boston Fed, did not want to comment on Hughes’ election as it related to Paxson’s prior service.
Hughes said she was approached by the Boston Fed last year, but referred further details about the process to the Boston Fed. Brancaleone said, “Boston Fed Board members are selected to ensure broad representation from a wide variety of sectors, demographic groups, and geographic areas in the region.”
Asked about her top priorities in her new role, Hughes said her number one goal is “to make sure Rhode Island has a seat at the table,” while keeping an eye on indicators of economic and business health like labor market conditions and the consumer price index.
Hughes has served as CCRI’s president since 2016, and has more than 30 years of experience in higher education and the nonprofit sector. She also serves on the board of directors for the Rhode Island Foundation, and is a member of the Council of Competitiveness.
(Updates: Comment from Boston Fed added in 7th and 8th paragraphs)
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
