The Cleveland Fed president, long one of the most hawkish members of the central bank's rate-setting committee, is stepping down because of mandatory age...
Federal Reserve Bank of Cleveland President Loretta Mester announced Wednesday that she will retire June 30 of next year in accordance with the Fed's mandatory age and length-of-service policies.
Fed rules require regional bank presidents to serve a 10-year term if they were appointed after turning 55, a situation that applies to Mester. They also have to retire by age 65 if they were appointed before turning 55.Loretta J. Mester, president and CEO of the Federal Reserve Bank of Cleveland, pictured at the Jackson Hole Economic Symposium outside Jackson, Wyo., last August.
She joined the Philadelphia Fed in 1985 as an economist, became senior vice president and director of research in 2000, and executive vice president and director of research in 2010. ‘She ran rings around Warren Buffett’: An IRS auditor secretly turned her $5K nest egg into a $22M fortune — here are the 3 simple strategies that made Anne Scheiber richAvoiding Dividend Traps: Tips for Canadian Investors
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