Philly Fed Names Patrick Harker as Plosser's Successor

The Philadelphia branch of the Federal Reserve on Monday named Patrick Harker, head of the University of Delaware, as its president and newest U.S. monetary policymaker.

Harker, 56, begins July 1 and succeeds Charles Plosser, who retired on Sunday. A relatively unknown name on the national economic scene, Harker currently sits as a director on the Philadelphia Fed's board.

(Reporting by Jonathan Spicer; Editing by Chizu Nomiyama)