Reported 4 months ago
Beth Hammack, a former Goldman Sachs executive, has been appointed as the next president of the Federal Reserve Bank of Cleveland, joining the central bank committee that determines interest rate directions. Hammack will replace current president Loretta Mester, who is retiring. The appointment comes at a critical time as the Fed considers whether to cut rates from a 23-year high. Hammack, who has worked for Goldman for over 30 years, will begin her role on August 21 and will become a voting member of the Federal Open Market Committee.
Source: YAHOO