
Meyer to step down from Fed
Meyer also participated in the Basel international capital accord negotiations and led the effort to encourage the development of sophisticated risk management techniques at the United States’ large banking organisations.
“During my term here, we have seen remarkable developments, both in the economy and in the structure of financial markets institutions,” said Meyer in his resignation letter to President George Bush. “These developments have required the Federal Reserve to adapt its monetary and regulatory policies to help our economic system realise its full potential.”
Before becoming a member of the Fed board of governors, Meyer was president of Laurence H Meyer and Associates, a St Louis-based economic consulting firm specialising in macroeconomic forecasting and policy analysis. He was also a professor of economics at Washington University.
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