It is somewhat ironic that a Federal Reserve which is now more committed to "forward guidance", transparency and communication than ever in history, just announced the resignation of Krishna Guha, the head of NY Fed's Communications Group, aka the head PR contact for all media. More importantly, the resignation took place without a handy substitute ready. Our advice to the Fed, if unable to find a worthy replacement: just hire Jon Hilsenrath - after all he already is the Fed's mouthpiece.
From the NY Fed: [8]
The Federal Reserve Bank of New York today announced that Krishna Guha, executive vice president and head of the Communications Group, conveyed his intention to resign from the Bank, effective September 6, 2013. He will step down from his current position immediately, and serve as a senior adviser to President Dudley until his last day in the Bank.
The New York Fed will start the search process for Mr. Guha’s replacement which will include a review of internal and external candidates.
"Krishna has performed in an exemplary manner--working tirelessly to broaden the Bank's relationship with our stakeholders and serving as a valued advisor to me on policy and policy communication. This has included fostering more frequent and deeper engagement across the region and encouraging much greater transparency in how and why we act to further the public interest” said William C. Dudley, president and chief executive officer of the New York Fed. "I accepted his resignation with great regret and wish him well."
Mr. Guha joined the New York Fed as head of the Communications Group in April of 2010.