Richmond Fed head resigns for improper discussions

Washington • Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, announced Tuesday he was resigning effective immediately after acknowledging improper discussions with a financial analyst that later became the subject of a lengthy investigation into leaks at the Fed. In a statement, Lacker said that in October 2012 he spoke to an analyst at Medley Global Advisors who possessed “highly confidential” information about interest-rate decisions the Fed had considered at its September m...

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