Jeremy C. Stein will resign from the Federal Reserve Board of Governors to return to his teaching position at Harvard University’s economics department.
Stein submitted his letter of resignation to President Barack Obama last Thursday and will officially resign May 28. He has been a member of the board since May 30, 2012, and was appointed to fill an unexpired term that ends Jan. 31, 2018.
He has served on the Committee on Bank Supervision and Regulation and as co-chair of the Financial Stability Board’s Official Sector Steering Group on reforming interest-rate benchmarks, which was charged with developed alternative reference rates and transition strategies in the wake of the LIBOR scandal.
While on the board, Stein has been on leave from his position as the Moise Y. Safra Professor of Economics at Harvard University, where he taught courses in finance in the undergraduate and Ph.D. programs. From February to July of 2009, Stein served in the Obama administration as a senior adviser to the Secretary of the Treasury and on the staff of the National Economic Council.
