Federal Governor Frederic S. Mishkin submitted his resignation today to President George W. Bush. Mishkin will be leaving his post on Aug. 31, 2008.

Mishkin has been a member of the board since Sept. 5, 2006. Mishkin's term was set to expire on Jan. 13, 2014.

During his tenure, he served as chairman of the Committee on Economic Affairs. He was also as a member of the Committee on Supervisory and Regulatory Affairs and the Committee on Consumer Affairs.

Mishkin has said that he will be returning to his teaching post at Columbia University.

By Steve Stecyk and edited by Nancy Girgis