Fed’s Yellen will leave Board of Governors seat when Powell is sworn in

Eren Sengezer FXStreet

"I am writing to inform you that I plan to resign as a Member of the Board of Governors of the Federal Reserve System, effective upon the swearing in of my successor as Chair," Janet Yellen wrote in her resignation letter addressed to the President Donald Trump.

"I am gratified that the financial system is much stronger than a decade ago, better able to withstand future bouts of instability and continue supporting economic aspirations of American families and businesses," Yellen said in her letter. "The economy has produced 17 million jobs, on net, over the past eight years and, by most metrics, is close to achieving the Federal Reserve's statutory objectives of maximum employment and price stability." Chairwoman further added.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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