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Fed Hawk Lacker to Retire Oct. 1, Successor Search Under Way

  • Lacker is among Fed’s most hawkish anti-inflation officials
  • Richmond Fed chief has dissented in favor of tighter policy
Bloomberg business news

Richmond Fed’s Jeffrey Lacker to Retire October 1

Updated on

Federal Reserve Bank of Richmond President Jeffrey Lacker plans to retire Oct. 1, marking the exit of one of the U.S. central bank’s most steadfast inflation fighters at a time when the Fed is weighing how quickly to raise interest rates.

The Richmond Fed said Tuesday that a committee had been formed to find a successor for Lacker, who has led the regional Fed bank since 2004, and has engaged professional services firm Heidrick & Struggles to conduct the search. The head of the Richmond Fed will be a voting member of the policy-setting Federal Open Market Committee in 2018.