Kansas City Fed Pres. Esther George to retire in January 2023

The Kansas City Fed Pres. Esther George (voting member in 2022) is to retire in January 2023. The search for a new Kansas City Fed Pres. has begun.

Recent comments from Monday from George:

• Further war-related production delays and lockdowns could raise inflation and mean more Fed intervention
• War, or China lockdowns, on the other hand, might slow growth and trim inflation
• The pandemic may have harmed irreversibly the productive potential of the economy

• I expect the Fed's policy rate to be in the neighborhood of 2% by August

• Evidence inflation is clearly decelerating will inform judgments about further tightening

• Inflation is too high and too broad to dismiss; returning it to the Fed's 2% target goal is 'top priority'

• Surplus household savings are a crucial wildcard for the demand forecast

• Road ahead will be bumpy
• Wants to see inflation moving down in a convincing fashion
• Cost of higher interest rates is difficult for politicians to accept

Given the difficulty of being a central banker these days, it is no wonder she seems so angry/serious.

Here is a picture of her in retirement.