Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Stein to leave Fed board May 28
WASHINGTON (4/4/14)--Federal Reserve Board Governor Jeremy Stein Thursday submitted his resignation, effective May 28, and announced plans to return to his teaching position in Harvard University's department of economics.

Stein has been a Fed board member since May 30, 2012, and was appointed by President Barack Obama to fill an unexpired term that ends Jan. 31, 2018.

New Fed Chair Janel Yellen said of Stein, "His understanding of monetary policy and markets as well as his expertise in banking and financial regulation has proven invaluable in his service to the Federal Reserve and the country." She added he has served as an "intellectual leader" during his time at the Fed.

While at the Fed, Stein served on the Committee on Bank Supervision and Regulation. He co-chaired the Financial Stability Board's Official Sector Steering Group on reforming interest-rate benchmarks, an international group of regulators charged with developing alternative reference rates and transition strategies in the wake of the "well-documented problems with LIBOR."

Use the resource link to access Stein's letter of resignation.
Other Resources

Letter of Resignation
RSS





print
News Now LiveWire
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 Day ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
1 Day ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
1 Day ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
1 Day ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
1 Day ago