Kohn to leave Fed in late June, creating opening for Obama
By Jeannine Aversa, APMonday, March 1, 2010
Kohn to leave Fed in June
WASHINGTON — Donald Kohn, the second-highest ranking official at the Federal Reserve, says he will step down when his term ends in late June.
Kohn has played a major role in shaping the Fed’s strategy in fighting the worst financial and economic crisis to hit the country since the Great Depression.
His departure will open up a third seat on the seven-member Federal Reserve board, giving President Barack Obama a chance to put his imprint on the central bank.
A veteran of the Fed, Kohn first joined the Fed as a economist in Kansas City in the early 1970s. He has been a member of the Fed board since 2002.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.
WASHINGTON (AP) — Donald Kohn, the second-highest ranking official at the Federal Reserve, says he will step down when his term ends in late June.
Kohn has played a major role in shaping the Fed’s strategy in fighting the worst financial and economic crisis to hit the country since the Great Depression.
His departure will open up a third seat on the seven-member Federal Reserve board, giving President Barack Obama a chance to put his imprint on the central bank.
A veteran of the Fed, Kohn first joined the Fed as a economist in Kansas City in the early 1970s. He has been a member of the Fed board since 2002.
Tags: Barack Obama, Geography, Kansas, North America, United States, Washington
