Daleep Singh resigns from New York Fed to join Joe Biden administration
In a major development, Daleep Singh has stepped down from his designation as Head of the Markets Group and will be leaving Federal Reserve Bank of New York (New York Fed) in mid-February to join the Joe Biden Administration.
He will be joining Joe Biden's administration as Deputy National Security Advisor and Deputy National Economic Council Director.
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Meanwhile, the Head of Central Bank and International Account Services, Anne Baum, will serve as interim Head of the Markets Group. The New York Fed will now look for his successor in the coming weeks.
John C. Williams, president and chief executive officer of the New York Fed, stated that “Daleep was dedicated to the public service and his leadership skills to the New York Fed had a great impact during his tenure.”
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Adding, he said that “Daleep has played a critical leadership role for over the past year in the emergency facilities the Fed launched during the COVID-19 pandemic."
"I’m thrilled that he will continue to leverage his knowledge and expertise in support of economic policy at this crucial time,” Williams added.
Daleep Singh joined the Federal Reserve Bank of New York in February 2020 as Head of the Markets Group. His focus was to bring together policy, strategy, analysis and operational effectiveness. Also, he served as a member of the Executive Committee.
Earlier, Singh served as the Senior Partner and Chief US Economist at SPX Capital, a global investment firm. Even as he worked at the US Department of the Treasury from 2011 to 2017, as Acting Assistant Secretary for Financial Markets and Deputy Assistant Secretary for International Affairs.
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