Randal Quarles resigned from his post on the Board of Governors of Federal Reserve System. He resigned at December’s end.

Quarles wrote a resignation letter to President Joe Biden on Friday he planned to leave the Fed “during or around the last week of December of this year” after serving at the government agency for more than four years. Since 2017, he has served as a member and vice-chair of supervision. Terms are expected to expire in October 2021 and January 2032, respectively.