"It is equally important for the Federal Reserve Bank of Boston and the Federal Reserve System to focus on what is important — to return the economy to full employment and carry out the important work conducted by the Boston Fed." Kenneth Montgomery, the Boston Fed's first vice president and chief operating officer, will assume the role of interim CEO and president later this week. Rosengren joined the Boston Fed as an economist in 1985 and served as head of supervision, regulation and credit before he succeeded Cathy Minehan as president in 2007. Minehan held the president's position at the Boston Fed for 13 years following the tenure of Richard Syron. Boston is one of 12 regional reserve banks in the Federal Reserve system.

Source: MetroXpress September 27, 2021 14:03 UTC