WASHINGTON — Federal Reserve Board Gov. Kevin Warsh will resign by the end of March, the central bank said Thursday.
Warsh, who has been a board member since February 2006, notified President Obama of his decision today to depart from his post on or around March 31. In his resignation letter to the president, Warsh wrote, "I am honored to have served at a time of great consequence."
On the board, his focus was primarily related to financial markets and the conduct of monetary policy.
He also served as the Fed's envoy to the Group of 20 and the Board's emissary to the emerging and advanced economies in Asia.
"Kevin rendered the Federal Reserve and the nation exemplary service during this time at the Board," Fed Chairman Ben Bernanke said in a statement. "In particular, his intimate knowledge of financial markets and institutions proved invaluable during the recent crisis."
Before joining the board, Warsh served as a Special Assistant to the President for Economic Policy and Executive Secretary of the White House National Economic Council between 2002 and 2006.
