Loretta Mester's tenure at the Federal Reserve Bank of Cleveland will end in June.
The Federal Reserve Bank of Cleveland said Wednesday that it has begun a search for a replacement of current president, Loretta Mester, who has reached mandatory retirement age.
Mester, 65 years old, took office in June 2014 as the 11th president and chief executive officer of the Federal Reserve Bank of Cleveland. Mester’s tenure will end on June 30, 2024, in accordance with Fed mandatory age and length of service policies, the bank said.Mester, considered to be hawkish on monetary policy, was set to be a voting member on the central bank’s policy-setting Federal Open Market Committee next year. The Fed meets again in January. According to the CME FedWatch Tool, 82.
In a speech on Oct. 20, Mester said that her monetary policy views will continue to be impacted by incoming economic data. “Whether the fed funds rate needs to go higher than its current level and for how long policy needs to remain restrictive will depend importantly on how the economy evolves relative to the outlook and how the risks are changing,” Mester said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cleveland Fed launches search for new leader after Mester leavesOften one of the central bank's bigger proponents for tighter monetary policy, Mester, 65, will reach mandatory retirement in 2024.
Read more »
Cleveland Fed launches search for its next leader, Loretta Mester to retire in 2024The Federal Reserve Bank of Cleveland announced Wednesday that it will start looking for its next president and CEO.
Read more »
Cleveland Fed’s Mester to retire next JuneGreg Robb is a senior reporter for MarketWatch in Washington. Follow him on Twitter grobb2000.
Read more »
Mariners coach Stephen Vogt selected as next Guardians managerIan Cross is the Digital Executive Producer at News 5 Cleveland.
Read more »
Northeast Lakes All-District football 2023: Cleveland Heights’ Marquise Davis, Glenville’s D’Shawntae Jones aFind out who made the Northeast Lakes All-District football teams in all seven divisions.
Read more »
Girls Golf All-Stars 2023: Meet the best from Northeast OhioMeet cleveland.com girls golf All-Stars for 2023.
Read more »