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Investing.com -- Michael Gibson, director of the Federal Reserve’s supervision and regulation division, will leave the central bank on July 31 after accepting a voluntary resignation offer, according to an internal email viewed and reported on by Bloomberg.
Gibson, who joined the Fed as an economist in 1992, informed staff this week about his decision to accept the voluntary resignation offer. His career at the central bank spans more than three decades, during which he rose through the ranks under former Fed Governor Daniel Tarullo following the 2008 global financial crisis.
The news of Gibson’s planned departure first emerged in May, though many details were not disclosed at that time.
His retirement comes as the Federal Reserve works to reduce its workforce by approximately 10% over the next couple of years, primarily through attrition rather than layoffs.
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