Donald Kohn, vice chairman of the Federal Reserve, said he will retire in June. The move gives President Barack Obama an opportunity to reshape the Fed. "It is a pivotal point in the history of the Fed," said Diane Swonk, chief economist at Mesirow Financial. "You need somebody who has credibility and can defend the Fed's independence in a way that doesn't offend Congress. They need finesse on regulatory policy. There will be a lot on their plate."
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