His term wasn't set to end until 2022.
Tarullo was at least
partly a Democratic supporter and member of Obama's transition team.
That adds another vacancy for Trump if he wants to stack the deck with a
Fed that wants to weaken the US dollar. There are two other vacancies
already there and Yellen's term ends in a year.
Here is the full press release from the Fed:
K. Tarullo submitted his resignation Friday as a member of the Board of
Governors of the Federal Reserve System, effective on or around April
5, 2017. He has been a member of the Board since January 28,
"Dan led the Fed's work to craft a new
framework for ensuring the safety and soundness of our financial system
following the financial crisis and made invaluable contributions across
the entire range of the Fed's responsibilities," Chair Janet L. Yellen
said. "My colleagues and I will truly miss his deep expertise,
impeccable judgment, wise insight, and strategic counsel."
Tarullo, 64, was appointed to the Board by President Obama for an
unexpired term ending January 31, 2022. During his time on the Board, he
served as Chairman of the Board's Committee on Supervision and
Regulation. He was also Chairman of the Financial Stability Board's
Standing Committee on Supervisory and Regulatory Cooperation.
Before joining the Board, Tarullo was Professor of Law at
Georgetown University Law Center, where he taught courses in
international financial regulation, international law, and banking law.
Prior to joining Georgetown Law, he held several senior positions in the
Clinton administration, and before that, served on the staff of the
late Senator Edward M. Kennedy.