Federal Reserve governor Meyer to step down

US - Federal Reserve governor, Laurence H. Meyer, said today that he would step down from the seven-member board when his term expires at the end of the month.

Appointed by President Bill Clinton, Mr. Meyer has served since 20 June, 1996, and had said he would not seek renomination. Mr. Meyer, in a letter to President Bush, said his resignation would be effective 31 January.

Mr. Meyer's departure, along with the resignation of another governor, Edward W. Kelley Jr., who left at the end of last