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Article snippet: WASHINGTON — William C. Dudley, the president of the Federal Reserve Bank of New York and a vocal proponent of improving the “culture” at big banks, was expected to announce his retirement as early as this week, according to two people familiar with the decision. Mr. Dudley, 64, became president of the New York Fed in January 2009 when he replaced Timothy F. Geithner, who left to become treasury secretary under President Barack Obama. After joining the regional Fed bank in 2007, Mr. Dudley took the reins in the midst of an economic recession, as Wall Street was still reeling from the 2008 financial crisis. He was a key player in the Fed’s efforts to shore up the economy, including its bond-buying campaign known as quantitative easing. Mr. Dudley’s successor will play a crucial role in policing Wall Street as policymakers in Washington take steps to loosen some of the regulations that had been imposed on banks after the crisis. The next president of the New York Fed will also take Mr. Dudley’s place as the vice chairman and a permanent voting member of the Federal Open Market Committee, which sets the Federal Reserve’s policy decisions about interest rates and the purchase and sale of securities on the open market. Mr. Dudley has voted in favor of the Fed’s current approach to monetary policy. In a speech last month, Mr. Dudley said that while he remained puzzled about why inflation had yet to meet the Fed’s longer-run objective of 2 percent, he believed that rais... Link to the full article to read more