Help Wanted: Federal Reserve Officials

Also in January, Boston Federal Reserve President Cathy Minehan resigned, saying she'd leave her post when a replacement is found. Minehan spent 39 in various Fed positions and said she is leaving in the interest of "broadening and diversifying" her career.

Other positions open at the Fed are the adviser spot that was vacated by Vincent Reinhart, who is leaving to run the American Enterprise Institute think tank, and Mark Olson's spot on the Board of Governors. Olson left in June 2006 to become chairman of the Public Company Accounting Oversight Board.

Meanwhile the bond market was weakening Friday on the typically hawkish St. Louis Fed President William Poole's comments that if inflation settles at a level over 2%, it is "unacceptable," and might require further rate hikes. The 10-year Treasury yield jumped from 4.75% to 4.77% after Poole's speech to the AIM Management Association in St. Louis.