WASHINGTON — Reports of his departure were apparently greatly exaggerated.
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Brian Sack, the head of the markets group for the Federal Reserve Bank of New York, has withdrawn his resignation and will stay on as a senior adviser to president William Dudley, the bank said Friday.
The bank said in April that Sack would leave June 29. Although Sack is still stepping down from his current role, which he has been in since 2009, he will now step into a different job. As a senior advisor, Sack will provide analytical expertise and guidance with respect to monetary policy, financial markets and the U.S. economy, the bank said.
Sack will assume his new duties effective June 30.
