WASHINGTON – Richmond Federal Reserve Bank President Jeffrey Lacker announced Tuesday that he will retire from the bank on Oct. 1 after nearly 13 years as president, and more than 28 years at the bank.

Lacker, a notable hawk on the Fed's Federal Open Market Committee, said that it has been an "honor" to serve the Fed's Fifth District – which includes Maryland, Virginia, West Virginia, North Carolina and South Carolina – and to have been a member of the Fed system during such important times.

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