Investing.com - Richmond Federal Reserve President Jeffrey Lacker announced his immediate resignation on Tuesday, after he admitted that he discussed sensitive information with an analyst concerning the Fed’s plans for economic stimulus.
Lacker, who previously said he planned to retire in October, admitted to speaking to an analyst at Medley Global Advisors regarding the September 2012 Fed meeting.
"I deeply regret the role I may have played in confirming this confidential information and in its dissemination to Medley's subscribers," Lacker said. "In this episode, as in all of my communications with analysts, journalists and the public, it was never my intention to reveal confidential information."
Lacker's resignation had little impact on markets, he was not a voting member of the Federal Open Market Committee (FOMC), this year.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, traded at 100.43, up 0.07% by 15:29 EDT.
Gold prices remained close to one-week highs at $1,258.55, up $4.55 while Treasury yields inched 0.14% higher with the U.S. 10-Year trading at around 2.353.
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.