Dennis Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, announced Tuesday he will step down from his position effective February 28, 2017.
"It has been an enormous privilege to serve as president of the Federal Reserve Bank of Atlanta," Lockhart said in a release. "The Atlanta Fed is an outstanding organization, and its employees are steadfastly dedicated to helping ensure the health and stability of our nation's economy and financial system. I am proud of the work we have accomplished together, and I believe the Bank is well positioned for the future."
Lockhart took office in 2007. Reserve Bank presidents are subject to mandatory retirement at age 65 years, unless they were appointed after age 55, in which case the board of directors, can allow them to serve until they've been in the office 10 years, or reach age 75, whichever comes first.
Lockhart, who is 69, will have served 10 years in February 2017.
