St. Louis Fed President James Bullard Resigns to Lead Purdue Business School
St. Louis Federal Reserve President Jim Bullard has announced that he will step down from his position on August 14th to become the dean of Purdue University's Mitchell E. Daniels, Jr. School of Business. Bullard has recused himself from his monetary policy role on the Federal Reserve's Federal Open Market Committee and all public speaking engagements. The St. Louis Fed will begin a search for his replacement with the help of a national executive search firm. Bullard's departure comes ahead of the Fed's next policy meeting, where traders are pricing in a 92.4% chance of a 25 basis-point rate hike.