Thomas Hoenig, the president of the Kansas City Federal Reserve, is to leave the central bank later this year, it emerged on Friday.
Hoenig reaches the mandatory retirement age of 65 this year and so will retire on October 1, 2011, the Kansas City Fed said in a statement.
The regional bank has formed a committee to select Hoenig's successor. The committee will be led by Terry Moore, the president of the Omaha Federation of Labor. Other directors on the search committee include; Lu Cordova, the c