The Federal Reserve Bank of New York has announced that its president, William Dudley, is retiring next year.
There are 12 regional Federal Reserve banks, and the New York Fed has the most responsibility. So does its president. First, he’s the chief regulator for New York’s huge banks.
“The sort of cop on the street,” said Anat Admati, a professor of economics at Stanford. “Really implementing, enforcing, whatever the regulations are.”