Bopp, Karl R., 1906-1979

Karl Bopp, one of the first professional economists to lead a Reserve Bank, served as president of the Federal Reserve Bank of Philadelphia from 1958 until his retirement in 1970. Bopp joined the Philadelphia Fed as director of personnel in 1941 and was named director of research the following year. He was elected president of the Reserve Bank in March 1958 and reappointed to the post in March 1961. During his time as head of the Philadelphia Fed, Bopp established the data processing department. This marked the Reserve Bank's first incorporation of computers into its operations. (Source: Federal Reserve History)