The Cleveland branch of the Federal Reserve says that Beth Hammack, an executive at investment bank Goldman Sachs, would be its next president effective Aug. 21. Hammack, 52, has worked at Goldman Sachs since 1993. She was most recently the cohead of global finance, and has also served as global treasurer and held senior trading roles.
WASHINGTON — The Cleveland branch of the Federal Reserve said Wednesday that Beth Hammack, an executive at investment bank Goldman Sachs, would be its next president effective Aug. 21.
Hammack, 52, has worked at Goldman Sachs since 1993. She was most recently the cohead of global finance, and has also served as global treasurer and held senior trading roles. Hammack was named a partner in 2010. She will follow Loretta Mester, who is stepping down June 30 after a decade as president of the Cleveland Fed. Fed presidents older than 55 when they are appointed are typically limited to 10 years in the role.
Mester was a longtime “hawk” on the Fed’s interest-rate setting committee, which meant she generally preferred higher interest rates to guard against inflation, while “doves” typically support lower rates to boost the economy and employment.
General News OH State Wire W Cleveland Inflation Business F U.S. News Federal Reserve System N U.S. News
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.
Goldman Sachs partner Beth Hammack to succeed Mester as Cleveland Fed leaderThe central bank district announced Wednesday that Beth M. Hammack, 52, will take over when Loretta Mester steps down June 30.
Read more »
Goldman Sachs partner Beth Hammack to succeed Mester as Cleveland Fed leaderThe central bank district announced Wednesday that Beth M. Hammack, 52, will take over when Loretta Mester steps down June 30.
Read more »
Goldman Sachs names global stocks with sustainable dividends yields — and says one will hit 10%European companies are more cash-rich than they've been in recent history. And Europe's 'rarely looked cheaper on an absolute and relative basis,' Goldman says.
Read more »
Goldman Sachs names former Fed Dallas chief Kaplan as vice chairmanGoldman Sachs said on Tuesday it had appointed Robert Kaplan, the former president of the Federal Reserve of Dallas, as its vice chairman, bringing an influential banker on to its management committee.
Read more »
Cleveland Metropolitan School District, Cleveland Teachers Union reach tentative agreementThe current collective bargaining between CMSD and CTU is set to expire on June 30.
Read more »
Could the 'Art Modell Law' keep Cleveland Browns stadium in Cleveland?Education: Emerson College
Read more »