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New York Fed president search narrows to handful of candidates

The list of candidates to be the next president of the Federal Reserve Bank of New York has been narrowed to a handful, the search committee said March 16.

The person they pick will vote on the interest rate setting Federal Open Market Committee each year and lead the Fed district tasked with carrying out implementation of monetary policy. Current New York Fed President William Dudley has said he will retire in the middle of 2018.

The search committee's co-chairs, Sara Horowitz and Glenn Hutchins, said in a news release they had about 30 candidates at the end of 2017, though the list narrowed by about half in January and has gotten smaller since meeting with candidates.

"Based on those meetings and after a small number of candidates opted out of the process, we further narrowed the list to a handful of final candidates, who we are pleased to say are eminently qualified," they said.

The committee also adjusted their criteria after gathering feedback from stakeholders and community groups, said the news release, which did not include the names of candidates still being considered.

The Fed's Board of Governors, based in Washington, D.C., will get the final say on the search committee's pick.