Beth Hammack Appointed as Cleveland Fed President

Former Goldman Sachs executive to succeed Loretta Mester, bringing extensive financial expertise to the role.

Beth Hammack will officially take office on August 21 and will participate in the Federal Open Market Committee's September meeting.
She succeeds Loretta Mester, known for her hawkish stance on inflation, who retires on June 30.
Hammack has over 30 years of experience in finance, including roles at Goldman Sachs and the U.S. Treasury.
Her appointment comes as the Fed navigates high interest rates and ongoing inflation challenges.
Mark Meder will serve as interim president until Hammack assumes her duties.