Kansas City Fed President Hoenig to retire Oct. 1
Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, is retiring from his position Oct. 1, ending a 38-year career with the central bank. Hoenig had been the the longest-serving member of the Federal Reserve. He was named KC Fed president Oct. 1, 1991. Hoenig made headlines this past year as the lone dissenting voice on the Fed's quantitative easing monetary policies. A board committee has been selected to search for his replacement, and the board appointed Terry Moore, president of the Omaha Federation of Labor to lead the selection committee. "As directors, our challenge is to identify a successor who will continue the high standards of performance that Tom has established for the 10th District," Moore said. The search committee also includes Federal Reserve Bank of Kansas City Chairman Paul DeBruce; Lu Corlund, CEO of Corlund Industries; Mark Gordon, owner of Merlin Ranch in Wyoming: Richard Ratcliff, chairman of Ratcliffe's Inc. out of Oklahoma.; and John Stout Jr., CEO of Plaza Belmont Management Group in Kansas. Write to Kerri Panchuk.