Tags: Obama | Fed | Stein | resignation

Fed Board Member Stein Announces Resignation

Thursday, 03 Apr 2014 11:16 AM

Jeremy Stein, a member of the Federal Reserve Board, says that he plans to resign next month to return to Harvard University.

In a letter to President Barack Obama, Stein says that he will resign effective May 28 and return to Harvard, where he had been an economics professor since 2000. Stein had been on the seven-member Fed board since 2012.

Stein's departure will mean one more vacancy for Obama to fill. Currently, there are three Obama nominations pending before the Senate including Stanley Fischer, who Obama has nominated as vice chairman, succeeding Janet Yellen. Yellen in February became Fed chair, the first woman to hold the position in the Fed's 100-year history.

Obama has also nominated Lael Brainard and Jerome Powell.

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Jeremy Stein, a member of the Federal Reserve Board, says that he plans to resign next month to return to Harvard University.
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2014-16-03
Thursday, 03 Apr 2014 11:16 AM
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