Thursday, April 3, 2014

Jeremy Stein Submits Resignation as a Member of the Federal Reserve

Jeremy C. Stein submitted his resignation Thursday as a member of the Board of Governors of the Federal Reserve System, effective May 28, 2014.

Stein, who has been a member of the Board since May 30, 2012, submitted his letter of resignation to President Obama and plans to return to his teaching position in Harvard University's department of economics.

He had about four years left on his term and was something of a middle of the pack money printer. He wasn't a Yellen-type dove, but he was far from a hawk. Though,  he was, early on, in favor, of Fed tapering.  He will likely be replaced by someone that is in favor of more aggressive money printing than he was.

1 comment:

  1. "After serving a one-year internship at Goldman Sachs Group Inc.,[4] he became an assistant professor of finance at the Harvard Business School from 1987-1990,"
    Resign and scurry back to Harvard.
    Just don't leave town.
    We'll have some questions soon.