George Says Fed Directors Should Meet Standards or Resign

Federal Reserve Bank of Kansas City President Esther George said that directors at the Fed’s regional banks who don’t meet the central bank’s standards for impartiality should step down.

“Bankers should serve,” George said in a statement released today by the Kansas City Fed. “There are high standards that apply to Reserve Bank directors, and when an individual no longer meets these standards, the director resigns voluntarily to allow someone who does meet the criteria to serve.”