Eric Rosengren, the president of the Federal Reserve Bank of Boston, is stepping down 9 months early due to a renal issue.
The president and CEO of the Federal Reserve Bank of Boston, Eric Rosengren, revealed on Monday that he will step down nearly a year early owing to worries about a kidney disease.
Rosengren, 64, said he’s had the kidney disease for a long time and qualified for a transplant last year.
According to the bank, Rosengren’s chances of postponing dialysis are better if he makes “lifestyle modifications today to reduce the risks of his disease.”
Rosengren had been set to retire in June after working at the bank since 1985 and serving as president since 2007. Thursday will be his last day.
In a statement, Rosengren said, “It has been a privilege to serve at the Federal Reserve System, in a role where one can be actively engaged in promoting the country’s and New England’s economic and financial well-being.”
“I am certain that my colleagues will build on our achievements and continue to make a positive impact on the people we serve.”
Rosengren announced his retirement as a result of backlash over real estate transactions he made during the COVID-19 outbreak.
Kenneth Montgomery, the bank’s chief operating officer, will act as interim president until a permanent successor is chosen.
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