Yellen's husband resigns from UBS-supported groupFebruary 14, 2014 @ 1:48 pm
WASHINGTON (AP) - George Akerlof, the husband of Federal Reserve Chair Janet Yellen, says he has resigned from an academic advisory board funded by a large Swiss financial institution.
Akerlof, a winner of the Nobel prize in economics, says he is stepping down as a member of the advisory board of the UBS International Center of Economics in Society, located at the University of Zurich.
In a statement Friday, Akerlof says he received no compensation for his participation on the advisory board and there was no conflict of interest. But he said he wanted to "avoid even the appearance of a conflict."
Yellen was sworn in as Fed chair on Feb. 3. UBS, Switzerland's largest bank, operates an investment-banking business in the United States and is regulated by the Fed.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Despite legalization, 'business is good' for Seattle's illegal pot dealers
Chiara D'Angelo spent her day mourning the loss of over 800 trees on Bainbridge Island
Some of the most beautiful animals in the world are disappearing from Washington
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.