Lael Brainard, the top U.S. Treasury official on international economic policy who helped steer the Obama administration's response to the euro-zone crisis, is stepping down from her post at the end of the week, a Treasury official said on Monday night.
Ms Brainard is considered a front-runner for a Federal Reserve governor post, though the White House could not be reached for comment on Monday. If chosen, she would have an optimal background to oversee the Fed's relations with foreign central banks and finance ministries, given her familiarity with the main players in international economic diplomacy.
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Her departure comes after three and a half years in the job, during which she also had to manage the Obama administration's efforts to push China towards greater renminbi appreciation without jeopardizing bilateral relations with the Asian nation.