Federal Open Market Committee

Fed’s Bies Resigns 

The Federal Reserve said Friday that Susan Schmidt Bies submitted her resignation as a member of the Board of Governors, effective March 30, 2007. Bies, who has been a member of the Board since December 7, 2001, submitted her resignation to President Bush, and said she plans to spend more time with her family. She does not plan to attend the March 20-21 meeting of the Federal Open Market Committee.