Central Banks
Cleveland Fed Starts Search to Replace Mester by June 2024
- Mester to retire after a decade of running the Cleveland Fed
- Fed official often supported tighter monetary policy
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The Federal Reserve Bank of Cleveland said it will launch a nationwide search for a new president and CEO to replace current head Loretta Mester, whose tenure ends in June 2024.
Mester, 65, will be retiring exactly a decade after she took the helm at the Cleveland Fed. She developed a reputation for being one of the US central bank’s more outspoken and hawkish policymakers, especially as officials moved aggressively over the past year and a half to tame the strongest inflation in a generation.