Richmond Fed’s Lacker, Source of Medley Leak, Announces Immediate Resignation

By: C.Jay Engel

In 2012 there was a leak of sensitive information that caused an investigation into the Fed. There was some heavy scrutiny of Yellen herself:

Ms. Yellen met in 2011 and 2012 with a representative of Medley Global Advisors, the financial consultancy involved in several investigations into its publication of sensitive details of internal Fed policy deliberations.

Just today, Richmond Fed President Lacker came forward and admitted himself as the source of the leak. He announced his immediate resignation. Looks like Trump may have another opening to get more influence at the Fed. The fallout from this remains to be seen.