Bullard to exit St. Louis Fed

James Bullard, president and CEO of the Federal Reserve Bank of St. Louis, today announced that he will step down Aug. 14 to become the inaugural dean of the Mitchell E. Daniels Jr. School of Business at Purdue University. First VP and COO Kathleen O’Neill Paese has assumed the duties of interim CEO in preparation for Bullard’s exit. The bank’s board of directors has formed a search committee to find a replacement.