POWER OF ATTORNEY

     Know all by these  presents,  that the undersigned  hereby  constitutes and
appoints Megan W. Clement, Gail C. Jones,  John D. Johnson or Frederick C. Leech
 or any of them,  the undersigned's true and lawful attorneys-in-fact to:
     (1)  execute  for and on behalf of the  undersigned,  in the  undersigned's
capacity  as an officer  and/or  director  of  Federated  Investors,  Inc.  (the
"Company"),  Forms 3, 4 and 5 in accordance with Section 16(a) of the Securities
Exchange Act of 1934 and the rules thereunder;
     (2) do and  perform  any and all acts for and on behalf of the  undersigned
which may be  necessary  or desirable to complete and execute any such Form 3, 4
or 5 and timely file such form with the United  States  Securities  and Exchange
Commission and any stock exchange or similar authority; and
     (3) take any other action of any type  whatsoever  in  connection  with the
foregoing which, in the opinion of such attorneys-in-fact, may be of benefit to,
in the best  interest  of, or legally  required  by, the  undersigned,  it being
understood that the documents executed by such attorney-in-fact on behalf of the
undersigned  pursuant to this Power of Attorney  shall be in such form and shall
contain such terms and conditions as such  attorney-in-fact  may approve in such
attorney-in-fact's discretion.
     The  undersigned  hereby  grants to such  attorneys-in-fact  full power and
authority  to do and perform any and every act and thing  whatsoever  requisite,
necessary  or proper to be done in the  exercise of any of the rights and powers
herein granted, as fully to all intents and purposes as the undersigned might or
could do if personally  present,  with full power of substitution or revocation,
hereby  ratifying  and  confirming  all  that  such  attorneys-in-fact,  or such
attorneys-in-fact's  substitute or substitutes, shall lawfully do or cause to be
done by virtue of this  power of  attorney  and the  rights  and  powers  herein
granted. The undersigned acknowledges that the foregoing  attorneys-in-fact,  in
serving in such capacity at the request of the undersigned, is not assuming, nor
is the Company  assuming,  any of the undersigned's  responsibilities  to comply
with Section 16 of the Securities Exchange Act of 1934, as amended.
     This Power of  Attorney  shall  remain in full  force and effect  until the
undersigned  is no longer  required to file Forms 3, 4 and 5 with respect to the
undersigned's  holdings of and transactions in securities issued by the Company,
unless earlier revoked by the  undersigned in a signed writing  delivered to the
foregoing attorneys-in-fact.
     IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be
as of this 22nd day of July, 2009.

                                          Executed

                                          /s/James L. Murdy
                                          Signature

                                          James L. Murdy
                                          Print Name