Federal Reserve Gov. Randal Quarles will leave his board seat in late December, the Fed announced on Monday.
Quarles, who President Donald Trump in 2017 appointed as the Fed's vice chair for supervision, and who served in the role up until Oct. 14, noted in a letter announcing his resignation plans to Pres. Joe Biden that his term as vice had ended in October.
His role as chair of the international Financial Stability Board expires Dec. 2.
His term on the Fed board, in theory, would have allowed him to remain as a governor until 2032.
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