President of Federal Reserve Bank of Richmond announces retirement

President of Federal Reserve Bank of Richmond announces retirement

RICHMOND, VA (WWBT) - The president of the Federal Reserve Bank of Richmond announced Tuesday plans to retire in October.

Jeffrey Lacker's been with the bank for 28 years. The 61-year-old was appointed President and CEO in August of 2004. Lacker has often been one of the most outspoken leaders in the federal reserve system, many times holding out as the lone dissenting vote in some big decisions.

The Richmond Fed's Board of Directors has already formed a search committee to find Lacker's replacement.

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