Chicago Fed Says President Charles Evans to Retire in Early 2023

© Bloomberg. Charles Evans Photographer: Justin Chin/Bloomberg

(Bloomberg) — Federal Reserve Bank of Chicago President Charles Evans plans to retire early next year, the bank said 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,” Evans, who has served as the regional Fed bank’s president since 2007, said in a statement.

The Chicago Fed has formed a committee to find a replacement, the bank said. The committee “is conducting a nationwide search to identify a broad, diverse and highly qualified pool of candidates” and has retained Diversified Search Group, an executive search firm, to assist with the search.

Evans had previously said he’d be stepping down when he reached the age of 65 in January 2023, in line with Fed guidelines for regional bank presidents.

©2022 Bloomberg L.P.

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