Atlanta Fed’s Lockhart to Step Down Next Year

Atlanta Fed President Dennis Lockhart said Tuesday he is stepping down, effective Feb. 28.
“It has been an enormous privilege to serve as president of the Federal Reserve Bank of Atlanta,” Lockhart said in a statement. “The Atlanta Fed is an outstanding organization, and its employees are steadfastly dedicated to helping ensure the health and stability of our nation’s economy and financial system. I am proud of the work we have accomplished together, and I believe the Bank is well positioned for the future.”
Lockhart, 69, has served in his role since March 1, 2007 and is beyond the 65-year age limit that the Fed sets for reappointment of regional bank presidents to a new 10-year term, Reuters reported. He plans on continuing to pursue his “interests in public policy, civic work and private business,” the bank said.

Prior to this announcement, Lockhart was set to become an alternate member of the Federal Open Market Committee in 2017.
The search committee for Lockhart’s successor will be led by Thomas Fanning, president and CEO of Southern Company and chair of the Atlanta Fed’s board of directors. While there is no set timetable for naming a new president, the bank said Marie Gooding, first vice president and chief operating officer of the Atlanta Fed, would serve as interim president if a successor is not chosen before Feb. 28.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza