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San Francisco Fed’s John Williams is front runner for New York Fed President position: Report

San Francisco Federal Hesitation President John Williams is the front runner to become the next President of the New York Fed, the Be ruined Street Journal reported on Saturday.

The New York Fed board recommended Williams to refund incumbent president William Dudley, who plans to step down next summer, sources routine with the matter told the publication. The decision is not final and could replace with, these people added.

One of the most influential positions within the U.S. prime bank, the New York Fed chief is a permanent member of the Fed’s policy-setting Open Trade in Committee (FOMC), and serves as its vice chair. The New York Fed regulates some of the state’s largest banks, and acts as the central bank’s liaison to Wall Alley.

Williams has served on the San Francisco Fed since 2002. He succeeded Janet Yellen as president in 2011, when old President Barack Obama selected her to take on the role of Fed vice chairwoman.

Williams’ action falls in line with the current approach of gradually raising attracted by rates.

Read more about John Williams from the Partition off Street Journal.

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