(Reuters) – Federal Reserve Bank of Kansas City President Esther George, who has been with the bank for 11 years, will be retiring in January. A search is underway to find her successor, according to the Fed bank.

Fed bank president rules require George to be retired by the age of 65. According to a statement, the Kansas City Fed board of directors had hired Egon Zehnder as an assistant in its nationwide search for her replacement.

Her successor will set interest rates for the biggest economy of the world. Fed increases interest rates to battle the highest level of inflation in over 40 years. It is exacerbated by a pandemic, which has left millions dead, as well as Russia’s invasion and subsequent soaring energy prices.

Amidst a high level of turnover among U.S. money policymakers (now 19), the search for Kansas City Fed’s next leader is taking place.

Two new members were added to the seven-member Fed Board by Joe Biden, both Black economists. They will be filling vacant positions on the Board. Biden’s nomination for the Board’s seventh seat and final position, that of Fed Vice-Chair of Supervision is also expected to be confirmed in the coming months.

The Fed recently appointed two of 12 regional banks as new presidents. Another, the Chicago Fed is currently in search of a new leader.

George’s 40-year career with the Fed dates back to 1970.