Dr. Farnsworth is Director of Division of Federal Reserve Bank Operations for the Board of Governors of the Federal Reserve System in Washington D. C. Prior to this he was Assistant to the Budget Director of the Federal Reserve and an assistant vice-president and economist of Federal Reserve Bank in Richmond, Virginia. Dr. Farnsworth held teaching positions at Virginia Tech and Clemson. He was on the ETSU tennis team. He was the key speaker for the Annual Alumni Media Luncheon at homecoming '86, and also arranged for the December commencement speaker, Paul Volcker. He is a member of the Committee of 1000.