Fed's Reinhart, Top Adviser on Rates, Plans to Leave

NEW YORK -- Vincent Reinhart, one of Federal Reserve Chairman Ben S. Bernanke's top advisers on interest rates, will leave the central bank, Bloomberg News reported Wednesday.

Reinhart helps draft the statements following meetings of the Federal Open Market Committee, which has kept the benchmark rate at 5.25 percent since August, Bloomberg News reported.

Reinhart plans to join the American Enterprise Institute, a Washington-based think tank, the organization said in a statement. He will write about monetary policy and macroeconomics, joining scholars such as Allan H. Meltzer and John H. Makin, Bloomberg News reported.

A Fed spokeswoman wasn't immediately available for comment to Bloomberg News, and no successor has been publicly named to succeed Reinhart as director of the Division of Monetary Affairs.

-- NYSSCPA.org News Staff

Posted on 1/18/07