President of the Federal Reserve Bank in Chicago, Charles Evans, will retire from his post in early 2023 after 16 years of serving in his current role, the bank announced on Thursday.
"It has been an honor to serve as a president of the Chicago Fed and as a member of the Federal Open Market Committee for the last 14 years. I have been privileged to work with talented, dedicated and mission-driven colleagues who are singularly focused on serving the public interest, the Seventh District and our nation. I am immensely proud of the work our bank has accomplished," Evans noted in the release.
Non-banking members of the Chicago Fed's board of directors have already formed a search committee to find the bank's new president, the statement concluded.