Philadelphia Fed Hires Search Firm To Find New President

The Philadelphia Fed announced Thursday that it has hired the executive search firm Kom Ferry to help find a new president. In a statement, the regional Fed bank said it intends to conduct a broad search and consider a diverse group of candidates from inside and outside the U.S. central bank system. Charles Plosser, a hawk on the Fed policy committee who has led the Philadelphia Fed since 2006, had previously announced that he plans to retire in March.