Ferguson quits the Fed

Ferguson joined the Federal Reserve Board in 1997 and became vice-chairman in 2003 for a four-year term. In a letter to the board today, he said: "It is now time for me to pursue other professional opportunities."

He will remain in the post until April 28, but will not attend the March meeting of the Open Markets Committee, the board said.

Ferguson was in charge of the Fed's Year 2000 response and the board's initial response to the September 11 terrorist attacks. The board has not yet announced a replacement.

Roger Ferguson, resigned from Federal Reserve Board

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