Fed research director to retire


David Stockton, the director of the division of research and statistics at the Federal Reserve, has announced he will retire on September 30.

Stockton has worked at the Fed for 30 years, including 11 years as the director of the research division. In addition to overseeing the department's 325 employees, he briefed the Federal Open Market Committee (FOMC) on the outlook for the US economy.

"Dave Stockton is one of the finest economists I have known. My colleagues on the committee and I have

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