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St Louis Fed's Bullard Steps Down With Immediate Effect

FED
  • St Louis Fed's Bullard, very much at the hawkish end of the FOMC spectrum, has announced he is stepping down from his position president and CEO today "but will remain available to the Bank’s leadership in an advisory capacity until Aug. 14 to help ensure a smooth transition."
  • Remember that he was currently next slated to vote in 2025.

From the press release:

  • He has recused himself from his monetary policy role on the Federal Reserve’s Federal Open Market Committee and other related duties and has ceased all public speaking.
  • In accordance with the Federal Reserve Act and confirmed today by the St. Louis Fed board of directors, the Bank’s first vice president and chief operating officer, Kathleen O’Neill Paese, assumed the duties of interim president and CEO, effective immediately.
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