Yellen to Step Down From Fed Once Successor Is Sworn In
November 20 2017 - 2:30PM
Dow Jones News
By David Harrison and Harriet Torry
Federal Reserve Chairwoman Janet Yellen said Monday she would
resign as a member of the Fed's board of governors once her
successor as chairman has been sworn in.
Although Ms. Yellen's four-year term as chairwoman ends in
February 2018, her term on the Fed board doesn't expire until 2024.
In the past, it has been customary for Fed chairmen to step down
from the board once their term as Fed chief is up.
President Donald Trump has nominated Jerome Powell to succeed
Ms. Yellen. Mr. Powell currently serves as a member of the Fed's
board of governors.
Ms. Yellen previously served as Fed vice chairwoman and as
president of the San Francisco Fed.
Write to David Harrison at david.harrison@wsj.com and Harriet
Torry at harriet.torry@wsj.com
(END) Dow Jones Newswires
November 20, 2017 14:15 ET (19:15 GMT)
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