Charles Evans has led the Federal Reserve Bank of Chicago since September 2007 and is the longest-tenured reserve bank president.
Photo:
Al Drago/Bloomberg News
The Federal Reserve Bank of Chicago said Thursday it would begin a search for a new president because its current leader,
Charles Evans,
will retire early next year.
Mr. Evans, who has led the regional Fed bank since September 2007, is the longest-tenured reserve bank president. He turns 65 years old in January. Fed presidents can generally serve terms that run up to 10 years or until they turn 65. Mr. Evans began his career at the Chicago Fed in 1991.
Kansas City Fed President
Esther George
also turns 65 in January, which will force her retirement at that time.
The Federal Reserve system has 12 regional banks whose presidents participate in the rate-setting meetings of the Federal Open Market Committee. The New York Fed president and up to seven Washington-based governors have a permanent seat on the committee, while four of the remaining 11 reserve bank presidents vote on a rotating basis. The Chicago Fed president has a vote on the committee in 2023.
Write to Nick Timiraos at [email protected]
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Appeared in the April 22, 2022, print edition as ‘Chicago Fed Chief To Retire in 2023.’
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