Fed bailout critic Stern to step down

Gary Stern, the president of the Minneapolis Federal Reserve and a vociferous critic of the Fed's recent bailouts, is to retire. He is the longest-serving senior Fed official.

Stern has criticised the Fed's bailout of Bear Stearns, saying that it exacerbated the too-big-to-fail problem, on which he has written widely. He has also panned the British authorities' handling of the collapse of Northern Rock.

Writing with Ron Feldman, the senior vice president for supervision, regulation and credit

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: