New York | Thursday, April 28, 2011 5: 43 pm EDT
New York (Reuters)-GE (GE. n) CEO Jeffrey Immelt resigned from the Board of the "Federal Reserve Bank of New York" last month because of other commitments, regional Central Bank announced on Thursday.
Immelt was Board member of "the New York Fed since January 2006, help provide input to policy makers about narrative developments in the United States and the global economy.
"I am, sadly, tender my resignation as a member of the Board of the" Federal Reserve Bank in New York, given the increasing demands on my time, "Immelt wrote a letter to the New York Fed Chief William Dudley dated 9 March.
President Barack Obama in January Immelt highest outside economic adviser to help lift contracting with the United States. Immelt is now up to the Presidential Council on employment and competitiveness, which replaced the economic recovery advisory group headed by former Federal Reserve Chairman Paul Volcker.
"Jeff with great insight as a Board member at a time is very important for the wider economy Bank, presented" Dudley in a statement.
Description of people who attended the meetings of the Board, "New York Fed" Immelt as "always moving," adding that it seemed to him the role of the "Federal Reserve Bank of New York" seriously.
Leaves resignation vacancies on board the New York Fed ". Vacancies both managers "category b", which means "elected by member banks New York Fed" to represent the public.
Immelt, was serving a three-year term of office expires at the end of 2011.
(Editing by Gary Crosse)
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