This is developing…
- RICHMOND FED PRESIDENT LACKER RESIGNING EFFECTIVE TODAY: NYT
- FED’S LACKER QUITS TODAY AFTER IMPROPER DISCLOSURE: NY TIMES
- Richmond Fed President Lacker Resigning Effective Today: NYT
- Jeff Lacker, Richmond Fed president, says he is resigning effective today after improperly disclosing confidential Fed information, NY Times said in tweet.
WOW — Richmond Fed President Jeffrey Lacker just admits he leaked information to Medley. Resigns effective immediately. pic.twitter.com/m0sYfmCxMp
— Josh Zumbrun (@JoshZumbrun) April 4, 2017
And from the Fed:
The Federal Reserve places a high priority on safeguarding information. We expect every employee to comply with all relevant policies and procedures, as well as our standards of conduct. Employees must review and acknowledge our policies annually. Once our Bank’s Board of Directors learned of the outcome of the government investigations, they took appropriate actions.
We are focused on moving forward within our organization—and were already underway with our presidential search, following Jeffrey Lacker’s announcement in January to retire in 2017. This search process will continue as scheduled. In the interim, First Vice President Mark Mullinix is serving as the Bank’s acting president.
Guess who gets off scot-free now?
And as a reminder…
This doesn't mean Yellen didn't
— Nicola Duke 🏴 (@NicTrades) April 4, 2017