Richmond Federal Reserve President Jeffrey Lacker handed in his immediate resignation Tuesday after admitting his role in an investigation dating back to 2012.
Lacker had announced plans to retire in 2017, and the Richmond Fed already had launched a search committee to find a new president.
“I apologize to my colleagues and to the public I have been privileged to serve. I have always strived to maintain the appropriate balance between transparency and confidentiality,” Lacker said in a statement.