Donald Kohn to Resign from the Federal Reserve

by Charles Lemos, Mon Mar 01, 2010 at 01:34:20 PM EST

The Board of Governors of the Federal Reserve has announced that Vice Chairman of the Federal Reserve Donald L. Kohn has submitted his intent to resign Monday as a member of the Board of Governors of the Federal Reserve System, effective at the expiration of his term on June 23, 2010.

Kohn's departure brings to three the number of vacancies on the Federal Reserve’s seven-member board of governors. The opportunity now exists for the Obama Administration to significantly alter the composition of the Federal Reserve which serves as the nation's central bank. With these appointments the President can significantly have an imprint on the direction of US monetary policy over the next decade.

Tags: US Monetary Policy, Donald Kohn, Federal Reserve (all tags)

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