Federal Reserve Official Steps Down

Sat., Jan. 11, 1997

Compiled From Wire Services

Lawrence B. Lindsey, a member of the Federal Reserve board of governors for more than five years, announced his resignation Friday.

In a letter to President Clinton on Thursday, Lindsey said his Fed service “has been one of the most personally and intellectually enriching experiences of my life.”

His resignation, effective Feb. 5, leaves two vacancies on the seven-member board. Governor Janet L. Yellen is leaving to become chairman of Clinton’s Council of Economic Advisers.

Lindsey, 42, said he will become a resident scholar at the American Enterprise Institute, a Washington think tank, and become managing director of Economic Strategies, a New York economic advisory service.

He was appointed to the Fed by President George Bush in November 1991 for whom he served as special assistant for policy development. He is a former Harvard economics professor and served three years on the staff of the Council of Economic Advisers during the Reagan administration.

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Federal Reserve Official Steps Down

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