Dovish Elizabeth Duke resigns from Fed Board

Elizabeth Duke has resigned as a member of the Board of Governors of the Federal Reserve System (release).

Duke, who has been a member of the Board since August 5, 2008, submitted her letter of resignation to President Obama. She has made no announcements about her future plans.

Elizabeth was appointed to the Board by President Bush, and is "Dovish" according to the Thomson Reuters Dove-Hawk scale.

Fed chairman Ben Bernanke:

Betsy has made invaluable contributions to the Federal Reserve and to the country during her five years at the Board.

She brought fresh ideas grounded in her deep knowledge of the banking industry and the real-world dynamic between borrowers and lenders. I wish her the best in her future endeavors.