Philadelphia Federal Reserve President Charles Plosser announced on Monday that he will retire on March 1 of next year.
"After more than three decades of economic research and teaching, this has been a unique opportunity and privilege to serve the nation," Plosser said in a statement.
He was a lead economics professor at the University of Rochester before he became the 10th president of the Philadelphia Fed on August 1, 2006.
"Charles Plosser has been an insightful and dedicated leader and colleague in the Federal Reserve System," Federal Reserve Chair Janet Yellen said in the release. "I am particularly grateful for his vital contributions to the work of the subcommittee on communications. My colleagues and I will miss his keen insights, deep analysis, and good humor."
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