WASHINGTON — Cathy E. Minehan, who has headed the Federal Reserve Bank of Boston since 1994, said yesterday she plans to retire this year, ending a career that began at the New York Fed almost 40 years ago. Minehan has a vote on the Federal Open Market Committee this year.
“I am proud of my service at the Federal Reserve Bank of Boston, and earlier at the New York Fed,” she said in a statement. “The Federal Reserve System plays a vital role in contributing to the health of the U.S. economy. I have been honored to be a part of its activities for virtually 40 years, and especially to have been the president of the Federal Reserve Bank of Boston.”
Minehan cited a desire to move on in the “interests of broadening and diversifying” her career as a driving factor in her decision. She said she plans to remain in her post until a replacement is found.
Officials are not abiding by any specific time frame as they attempt to identify the best-qualified successor, but the selection process is expected to be complete within the year, according to a spokesman for the bank.
