New York Federal Reserve president is retiring

New York Federal Reserve President William McDonough will retire on 21 July, the New York Fed said Thursday, after a decade as one of the most senior policy-makers at the U.S. central bank.

The chairman of the board of the New York Fed, Peter Peterson, said he will form an advisory committee to identify candidates for a potential successor.

"During the period of the search for his successor, Mr. McDonough said he intends to stay fully engaged with the work of the bank, including the finalizati

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