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Kansas City Fed Appoints Schmid As President

FED
  • A year on from its search for a President, the Kansas City Fed named community banker Jeffrey R. Schmid as its president succeeding Esther George, who retired in January. The role next has a FOMC voting role in 2025.
  • The appointment makes Schmid the newest member of the FOMC and ends the longest search by a Fed bank for a leader in this century.
  • Schmid's term will begin August 21, just three days before the bank hosts its annual Jackson Hole Economic Symposium. He will complete the remainder of George's five-year term that ends on Feb. 28, 2026 and will then be considered for reappointment under a process established by the Board of Governors, according to a statement from the Fed bank.
  • Schmid is 64. Reserve bank presidents must retire at 65 years of age but those initially appointed after age 55 can be permitted to serve for 10 years or until age 75, whichever comes first.
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