WASHINGTON — The Cleveland branch of the Federal Reserve said Wednesday that Beth Hammack, a former executive at investment bank Goldman Sachs, would be its next president effective Aug. 21.

The Federal Reserve Bank of Cleveland announced Wednesday that Beth M. Hammack will be its next president and chief executive officer after current president Loretta Mester retires at the end of June.

NPR's Steve Inskeep speaks with Loretta Mester, former president of the Cleveland Federal Reserve Bank, on President Trump's pressure on Fed Chair Jerome Powell.