Minneapolis Fed President Won’t Seek Reappointment

Minneapolis Fed president Kocherlakota will teach at the University of Rochester next year.

The search for a new president at the Minneapolis Federal Reserve Bank is underway following an announcement by the current president, Narayana Kocherlakota, who will not be seeking reappointment.
 
Kocherlakota said he plans to join the University of Rochester’s faculty as an economics professor beginning in January of 2016.
 
This process will be “led by directors MayKao Hang and Randall Hogan and the search firm Spencer Stuart has been hired to assist with preparation of the position announcement, providing resumes of applicants and conducing background and credential checks,” according to a recent press release.
 
“The president’s responsibilities fall into three main categories: First, that of a public policymaker, second, acting as the Bank’s chief executive officer, and third, contributing to Federal Reserve leadership,” according to MayKao Hang.
 
Hang’s co-chair of the presidential search committee, Randall Hogan, added that they “plan to seek individuals who have the requisite experience to be both a strong policymaker and strong leader for the Reserve Bank and the Federal Reserve System.”