Daniel Tarullo, the Federal Reserve governor who is most known for his role in setting the central bank's regulatory policy, said he will resign on or around April 5. Tarullo has been a member of the Fed's board since 2009. The 64-year-old's term was due to expire in 2022. Tarullo, though mostly known for his role in bank regulation, was seen as an ally of Fed chief Janet Yellen on issues of monetary policy. "Dan led the Fed's work to craft a new framework for ensuring the safety and soundness of our financial system following the financial crisis and made invaluable contributions across the entire range of the Fed's responsibilities," Yellen said in a statement.
Continue Reading Below
Copyright © 2017 MarketWatch, Inc.