The Board of Directors of the Bank for International Settlements (BIS) announced that Christine Lagarde, President of the European Central Bank, will succeed Jerome H Powell, Chair of the Board of Governors of the Federal Reserve System, as Chair of the BIS Global Economy Meeting (GEM) and Economic Consultative Committee (ECC) from May 2026. The GEM and the ECC are among the BIS’s principal meetings and are held every two months.