New York Fed director involved in selecting new president resigns

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The Federal Reserve Bank of New York

David Cote stepped down from the board of directors of the New York Fed on March 17 as he is considering new professional opportunities, the institution announced on March 20.

Cote was one of the board members handling the search for the successor to New York Fed president William Dudley. The president announced last year that he intended to step down in the summer of 2018.

Cote joined the board as a Class B director in 2014. He remains the executive chairman of the industrial group Honeywell

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