Chairman of the Federal Reserve Bank of New York, Stephen Friedman, resigned unexpectedly Thursday, days after media reports surfaced questioning his ties to former employer, Goldman Sachs [stock GS][/stock].
"Today, although I have been in compliance with the rules, my public service motivated continuation on the Reserve Bank Board is being mischaracterized as improper," read Friedman's resignation letter to William Dudley, president and CEO of the New York Fed.
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