Kelley resignation now official at Fed

US - Federal Reserve Board Governor Edward W. Kelley Jr. officially resigned Wednesday, saying it was time "to turn my attention to my family and other personal interests."

In a letter to President Bush, Mr. Kelley praised his fellow governors and their personnel and said that his 14-year tenure at the central bank had been "a great privilege." Mr. Kelley was appointed by President Reagan to fill an unexpired term in 1987 and was later reappointed to a full term by the first President Bush.