Boston Fed President to Quit

NEW YORK -- The president of the Federal Reserve Bank of Boston said she will step down later this year, The Wall Street Journal reported Friday.

Cathy Minehan, a voting member of the Federal Open Market Committee, which sets monetary policy, has led the Boston Fed since 1994 and is the first woman to hold the post. She joined the New York Fed in 1968.

A written statement said Minehan has no specific future plans and will continue in her post until her successor is in place, the paper reported.

A search panel will be headed by Boston Fed Board Chairwoman Lisa Lynch, the paper reported.

-- NYSSCPA.org News Staff

Posted on 1/12/07