NEW YORK - The top Federal Reserve staff official charged with transforming the central bank’s words into actions in U.S. markets is stepping down.
The changes leave an interim figure in charge of the U.S. central bank’s market operations, which are run by the New York Fed Markets Group, as the Fed navigates how to keep control over interest rates and what to do with trillions in bonds this year. To keep the jobs market humming and inflation under control, the central bank uses trading and other incentives for banks and other traders that indirectly influence the rates people pay on mortgages and businesses pay on loans.
Potter, an economist, is a veteran of more than two decades at the New York Fed and has run the Markets Group since June 2012.
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