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Federal Reserve Vice Chairmen to Retire in June.
Posted: 03/01/10
By: tomgrisafi
The 67 year old Federal Reserve vice-chairman, Donal Kohn, announced today he will retire at the end of his term this upcoming June.
Kohn's departure leaves three vacant seats for President Obama to fill. The Federal Reserve board is generally made up of seven seats, leaving Obama with a big task ahead.
Federal Reserve Chairman Ben Bernanke was quoted stating ""The Federal Reserve and the country owe a tremendous debt of gratitude to Don Kohn for his invaluable contributions over 40 years of public service."
Vice chairman Kohn has played a very large role in the Fed's battle against the worst financial crisis the U.S has seen since the Great Depression.
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