News from earlier: White House confirms Nellie Liang withdraws from Federal Reserve nomination

The news seemed to precipitate a fall in yen crosses. I ma not sure I want to attribute the falls so emphatically to the news but the timing was right.

Anyway, more on the story now:

  • President Trump nominated Liang to the Fed Board of governors in September 2018
  • But Liang says no …. "I have decided to withdraw my name from consideration to be a member of the Board of Governors of the Federal Reserve because the likelihood of a prolonged process could have left me in professional limbo for too long"


Liang established the Fed Financial Stability department in 2010

  • Departed the Bank in 2016