Senior U.S. Treasury official to step down

According to Reuters, Lael Brainard, a top economic diplomat at the U.S. Treasury, will step down from her post on Friday, following reports she is under consideration for a seat on the Federal Reserve Board.

As undersecretary of the Treasury for international affairs since 2010, Brainard has played a key role in pushing China toward a flexible currency and pressing Europe to tackle its debt crisis more aggressively.

The Washington Post and the Wall Street Journal have reported that Brainard is under consideration to fill a vacancy at the Fed. The Treasury official, who spoke on Monday on condition of anonymity, did not disclose the reason for the departure and a White House spokeswoman declined to comment.