Former NY Fed director to succeed White at BIS

Stephen Cecchetti, a former director of research at the New York Federal Reserve, is the new head of the Bank for International Settlements' (BIS) monetary and economics department.

"Stephen Cecchetti brings to this position a wealth of experience in economic research and central banking," Malcolm Knight, the BIS's general manager, said. "We are fortunate indeed to have secured his talents and are looking forward to welcoming him to the BIS and to the senior management team."

Cecchetti, who i

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