The officer of the Federal Reserve led the financial regulation driven in 2008, and with the right to vote in monetary policy decisions, plans to leave his post in April.
WASHINGTON (Reuters) -
The governor of the Fed Daniel Tarullo will relinquish to the central bank of the united States, where he helped lead the financial regulation, creating more space for the president to Donald Trump by rewriting the computer that decides monetary policy.
Tarullo, who has worked at the Fed since 2009 and helped design the bank’s response to the financial crisis and a sharp recession, he said in a letter to Trump Friday that he would leave the central bank “on the 5th of April or a date close”.
The new Government had already said that it would name a new governor of the Fed in charge of leading the financial regulation, a position that Tarullo was never formally confirmed. That person has not yet been named.
David Nason, ceo of General Electric and a exfuncionario of the Department of the Treasury, is listed as a favorite for the position, said to Reuters sources with knowledge of the process.
The Fed released the letter along with a comment from chairwoman Janet Yellen, who highlighted the work of Tarullo creating a new regulatory framework and its “invaluable” contributions to the design of monetary policy of the Fed.
Tarullo also is a voting member in the design of monetary policy.
“it Has been a great privilege to work with former Bernanke and current chair Yellen during a period as challenging,” said Tarullo in a letter.
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