Lacker Abruptly Quits Fed Over Role in Leak of Policy Plans
- Richmond Fed president says he regrets he ‘crossed the line’
- Fed inspector general signals case is nearing a conclusion
Fed’s Lacker Resigning Over Improper Disclosure
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Federal Reserve Bank of Richmond President Jeffrey Lacker resigned abruptly on Tuesday as he disclosed his role in the leak of confidential information about policy options that the central bank was considering in 2012.
Lacker said during a phone conversation with an analyst from Medley Global Advisors in October 2012 that she brought up an “important non-public detail” about Fed policy makers’ discussions before a meeting, according to a statement emailed by law firm McGuireWoods in Richmond, Virginia, on Tuesday. Due to the confidential and sensitive nature of the information, Lacker said he should have declined to comment or immediately ended the call.