Jeffrey Schmid will replace Esther George, who retired in January as required by mandatory retirement rules. While he will participate in meetings, Schmid won’t...
Schmid will replace Esther George, who retired in January as required by mandatory retirement rules. While he will participate in meetings, Schmid won’t have a vote on interest rate decisions until 2025, because the regional Fed presidents vote on a rotating basis, usually once every three years.
As president of the Kansas City Fed, Schmid will also oversee bank regulation in his district, which includes Kansas, western Missouri, Nebraska, Colorado, Oklahoma, Wyoming and northern New Mexico.Advertisement
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