The Cleveland Federal Reserve launched a search Wednesday for its new leader, after current President Loretta Mester retires in mid-2024. Often one of the central bank’s bigger proponents for tighter monetary policy, Mester, 65, will reach mandatory retirement as she will have served in her current position for 10 years come June of next year. A committee comprised of Cleveland Fed board members will conduct the search. The vacancy comes at a time when the Fed has pushed for greater diversity among its governing body. Heidi Gartland, deputy chair of the district’s board, will lead the effort to replace Mester. ... (full story)