Richmond Fed’s Lacker Resigns Over Leak

Federal Reserve Bank of Richmond President Jeffrey Lacker resigned Tuesday and admitted to violating Fed communications policies. Lacker said he spoke to an analyst from Medley Global Advisors regarding the September 2012 Federal Open Market Committee meeting.

The Richmond Fed said its board of directors took “appropriate actions” and that it has already begun a presidential search due to Lacker’s announcement in January that he would retire this year. The Federal Reserve said it cooperated with the investigation of the 2012 disclosure.

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