Fed Vice Chairman Ferguson Resigns

Federal Reserve Vice Chairman Roger Ferguson, the last governor who wasn’t placed on the board by President Bush, resigned less than a month after Ben S. Bernanke became chairman.

In a letter to the president released by the Fed in Washington, Ferguson wrote that “it is now time for me to pursue other professional opportunities.”

He didn’t elaborate on what he would do or why he quit, but Ferguson won’t attend the Fed’s next interest-rate meeting March 27-28, the central bank said.

The vice chairman had been publicly at odds with Bernanke on announcing a numerical inflation target.