CLEVELAND, Ohio (8/9/13)--The president/CEO of the Federal Reserve Bank of Cleveland, Sandra Pianalto, announced Thursday that she will retire early next year after heading the bank since 2003. She joined the Clevelend Fed in 1983 as an economist in the Research Department.
"It has been an honor to serve as president of the Federal Reserve Bank of Cleveland and to participate on the Federal Open Market Committee during this extraordinary period in our country's economic history," Pianalto said announcing her 2014 departure.
She said she presently has no immediate plans "beyond continuing my involvement in civic and non-profit activities." She added: "I will not consider any opportunities until my successor is in place. I look forward to staying actively engaged in leading the Bank and serving on the Federal Open Market Committee until the selection process is complete."