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The Federal Reserve Board of Governors is becoming one person smaller: Daniel K. Tarullo submitted his resignation this afternoon, effective on or around April 5.Tarullo was appointed to the Board of Governors by President Barack Obama on Jan. 28, 2009, for an unexpired term ending Jan. 31, 2022. During this tenure, he served as chairman of the Board's Committee on Supervision and Regulation and chairman of the Financial Stability Board's Standing Committee on Supervisory and Regulatory Cooperation. Prior to joining the central bank, he was a law professor at Georgetown University and served in the Clinton Administration and on the staff of the late Senator Edward M. Kennedy (D-MA).
Tarullo offered no explanation on why he was leaving the Fed prior to the conclusion of his term. With his departure, the seven-person board will have three vacancies to fill.
