Federal Reserve Governor Jeremy Stein Resigns, Will Return to Harvard

In a surprise move on Thursday, Federal Reserve Governor Jeremy Stein resigned with about four years remaining on his term. In a letter to President Obama, Stein said "During my time here, the economy has moved steadily back in the direction of full employment." His resignation leaves the Board with just three of seven governor positions filled: Chair Janet Yellen, Daniel Tarullo, and Jerome Powell, who continues to serve after his term expired in January.