Esther George to step down after 40 years service at KC Fed.
Federal Reserve Bank of Kansas City President Esther George said Wednesday she plans to retire in January coming, the latest in a string of personnel changes on the FOMC this year as officials wage an aggressive fight against inflation.
George has served at the Kansas City Fed for 40 years and is subject to a mandatory retirement rule. She has a leadership role in developing FedNow, the Fed's instant payments system, and hosts the FOMC's Jackson Hole conference every August.
The Fed swore in new governors Philip Jefferson and Lisa Cook this month, and the Chicago, Boston and Dallas Fed banks are also seeing turnover at the top.