Cleveland Fed President Sandra Pianalto will retire early next year, according to a Fed statement.
Now I feel bad about the things I said about her yesterday. When I mentioned that she simply follows Bernanke, I didn’t think she would follow him into retirement.
There has been an absolute exodus of women from the Fed. Just last week, Governor Raskin quit to join the Treasury and Elizabeth Duke will leave at the end of the month. That leaves only Yellen and George and if Yellen doesn’t get nominated as Chairman she might quit as well.