Duke takes seat on Federal Reserve Board

Elizabeth A. Duke (M.B.A. ’83) was confirmed June 27 by the U.S. Senate to sit on the Federal Reserve Board.

She was nominated last year by President Bush to fill a vacant seat on the seven-member board. The Federal Reserve determines the course of interest rates in the country and is also responsible for ensuring the stability of the nation's financial system.

In a press release announcing the appointment, Senate Majority Leader Harry Reid said, “In confirming Elizabeth A. Duke for a term through 2012, we are ensuring the Fed can function during these difficult economic times.”

Duke is senior executive vice president and chief operating officer of TowneBank, based in Portsmouth.