Dallas Fed FOMC vote may go to Atlanta

The Dallas Federal Reserve said on Friday 10 December that the Atlanta Fed would temporarily take its vote next year on the US central bank's interest rate setting committee until it finds a replacement for departed President Robert McTeer.

"If the Dallas Fed does not have a president by Jan. 1 -- then Dallas' vote at the FOMC (Federal Open Market Committee) will pass to Atlanta as the alternate until a president is hired in Dallas," the bank said according to Reuters.

McTeer retired on Nov. 4

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