Ex-Fed governor Gramlich dies

Former Federal Reserve governor Edward Gramlich has died of leukemia. He was 68. Gramlich served the Fed from 1997 to 2005.

Fed chairman Ben Bernanke, who served alongside Gramlich as a governor, said: "I will miss Ned both as a colleague and as a friend. His contributions to the Federal Reserve were broad and significant, including his leadership in consumer protection issues, his work to restructure the discount window, and his expertise and judgment in the making of monetary policy."