Treasury's Carpenter Steps Down as Acting Assistant Secretary

Seth Carpenter, the U.S. Treasury’s acting assistant secretary for financial markets, has stepped down effective Friday.

Treasury spokesman Adam Hodge confirmed that Carpenter left the department.

Carpenter was a top adviser to Secretary Jacob J. Lew on financial matters including Treasury debt issuance, and acted as a senior liaison officer between the U.S. government and Wall Street.

Seth Carpenter

Source: U.S. Department Of The Treasury

“Seth provided invaluable guidance and advice to Secretary Lew and the entire Treasury senior team, always with analytical rigor and a sharp wit,” said Chris Weideman, Treasury’s chief of staff, in an e-mailed statement. “Together, we successfully navigated a host of complex issues, and he will be missed.”

Carpenter, who has an economics Ph.D. from Princeton University, was nominated to the Treasury post by President Barack Obama in 2014, though his appointment had not been confirmed by the Senate. He joined the Treasury from the Federal Reserve Board of Governors, where he had worked since 1999.

His departure leaves an already depleted domestic finance office even more short-handed. The positions of undersecretary and assistant secretary for financial stability are both vacant, and the assistant secretary for financial institutions, Amias Gerety, is serving on an acting basis, according to the Treasury’s website.

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