In her fourth month awaiting word from the Senate about a confirmation hearing, former Federal Reserve economist Nellie Liang has decided to withdraw her nomination for a seat on the Fed Board of Governors.
Liang, who has drawn criticism from Senate Republicans over her role in implementing post-crisis regulatory measures included in the Dodd-Frank Act, referenced the extended length of the confirmation process as a contributing factor for her decision.
Read on to learn what this means for the board.