- REUTERS/Chris Keane
Jeffrey Lacker, the president of the Federal Reserve Bank of Richmond, is retiring as of October 1, according to a release from the Richmond Fed.
“It’s been an honor to serve the Federal Reserve,” Lacker said in a release.
“I feel fortunate to have spent time throughout the Fifth District learning first-hand about people’s economic experiences and to have participated in some of the most extraordinary policy deliberations in our nation’s history. It’s been my deepest privilege to lead the Richmond Fed and the dedicated people who work here.”
Lacker joined the Richmond Fed in 1989, according to the release, and was appointed to the top job in 2004.
A search committee has been formed by the Richmond Fed, led by the chair of its Board of Directors Margaret Lewis to find a replacement. A replacement would then be nominated by the board of directors and subject to approval by the Fed’s Board of Governors, which includes Chair Janet Yellen, Vice Chair Stanley Fischer and the other regional bank presidents.