Published December 12, 2014 11:07am EST | Updated January 8, 2015 3:03pm EST

Fed's Kocherlakota Will Step Down In 2016

Narayana Kocherlakota, the president of the Minneapolis Fed, and a leading dove on the U.S. central bank, will step down once his current term ends early in 2016, the regional bank announced Friday. In a brief statement, Kocherlakota did not give a reason for deciding not to seek reappointment. Kocherlakota became president of the Minneapolis Fed in 2009.