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NEW YORK — Stephen Friedman, chairman of the Federal Reserve Bank of New York’s board of directors, has resigned effective immediately, the bank announced Thursday.
Friedman was the subject of a recent Wall Street Journal story that raised questions about his ties to Goldman Sachs Group Inc.
“Although I’ve have been in compliance with the rules, my public service . . . on the Reserve Bank Board is being mischaracterized as improper,” Friedman said in his resignation letter. “The Federal Reserve System has important work to do and does not need this distraction.”
