Donald Kahn To Bid Adieu To The Fed In June

The Wall Street Journal reports that Donald L. Kahn, the 67-year old vice chairman of the Federal Reserve Board, will step down from the post at the end of his term in June.

Daniel Tarullo, a former Georgetown University law professor whom Mr. Obama named to the Fed board last year, is being touted as a potential successor. However, the prestigious position might be used as bait to lure an outsider, to fill the three vacancies in the seven-member Fed board.

Mr.Kahn has been a close advisor to Fed chairman Ben Bernanke and Alan Greenspan. He has been a part of the Fed for 40 years.