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Richmond Fed President Jeffrey Lacker resigns after Medley leak

Stock MarketsApr 04, 2017 03:34PM ET
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© Reuters. Jeffrey Lacker admitted to being involved with the Medley leak

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.

The Dow Jones Industrial Average traded 0.08% higher at 20,667. The S&P 500 lost 0.06% and the Nasdaq Composite traded 0.03% lower at 5892.68.

Richmond Fed President Jeffrey Lacker resigns after Medley leak
 

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