Jens Weidmann, Governor of the Federal Reserve, resigns

In a climate where the world economy is going through the test of the coronavirus epidemic, the news of the resignation of the Central Bank of Germany, the economic giant of Europe, fell like a bomb in the global markets.

20.10.2021 - 17:50

Jens Weidmann, Governor of the Federal Reserve, resigns

Jens Weidmann, Head of Deutsche Bundesbank, Central Bank of the Federal Republic of Germany, announced that he will step down from his post at the end of this year due to personal reasons.

Weidmann requested President Frank Walter Steinmeier to be removed from office by 31 December 2021. Weidmann, who has headed the bank since May 2011, justified his decision to leave the post for personal reasons.

ENDED 10 YEARS OF WORK WITH A LETTER

Jens Weidmann wrote in a letter to bank employees, "I have come to the conclusion that over 10 years is a good time to turn a new leaf, both for the Bundesbank and for myself." used the phrases.

Thanking the bank employees, Weidmann said, "The environment in which we operate has changed tremendously and the duties of the Bundesbank have increased. The financial crisis, the state debt crisis and most recently the pandemic have led to decisions that will have long-lasting effects on politics and monetary policies. It was important that her clear, stability-oriented voice was distinctly audible." said.

HE WAS CALLED AS THE YOUNGEST CENTRAL BANK PRESIDENT

Weidmann, who took the Bundesbank chairmanship from Axel Weber in May 2011 and was 43 at the time, became the youngest central bank governor in Germany's history.