Atlanta Fed's Lockhart To Step Down At End Of February

The Atlanta Fed said Dennis Lockhart will step down as its president on Feb. 28. The regional bank said it will conduct a nationwide search, seeking a diverse slate of candidates to replace Lockhart, who had the role for nearly a decade. Thomas Fanning, chairman, president and CEO of Southern Company and chair of the Atlanta Fed's board of directors, will lead the search. Lockhart is seen as in the middle of the dove-hawk divide at the central bank. The Atlanta Fed president won't be a voting Federal Open Market Committee member until 2018.