Fed's Tarullo to resign, creating opening at central bank


Federal Reserve Governor Daniel Tarullo will resign from the U.S. central bank where he helped lead financial regulation, creating further room for President Donald Trump to reshape the Fed's policymaking staff.

Tarullo, who had served at the Fed since 2009 and helped shape its response to a financial crisis and deep recession, said in a letter to Trump on Friday he would leave the central bank "on or around April 5."

The Fed released the letter along with a comment by Fed Chair Janet Yellen who cited Tarullo's work crafting a new regulatory framework and his "invaluable" contributions to Fed policymaking.

Besides crafting regulation, Tarullo also is a voter on interest rate policy.

"It has been a great privilege to work with former Chairman Bernanke and Chair Yellen during such a challenging period," Tarullo said in the letter.

(Reporting by Jason Lange; Editing by Andrea Ricci)