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Close Yellen adviser Lipton to step down – NYT


International Monetary Fund (IMF) Acting Managing Director David Lipton attends a news conference after a meeting at the Chancellery in Berlin, Germany October 1, 2019. REUTERS/Hannibal Hanschke/File Photo

David Lipton, one of the closest advisers to U.S. Treasury Secretary Janet Yellen, will step down on Wednesday, the New York Times reported.

Lipton, a former International Monetary Fund official who serves as the international affairs counselor to Yellen, has been playing a key role in developing the Treasury’s international economic policy.

“He will be irreplaceable for the department, but I feel incredibly fortunate to have had his counsel in my first two years,” the NYT quoted Yellen as saying.

“During that time, David has helped shape our international agenda across a wide set of challenges — from the recovery from the pandemic to our response to Russia’s war against Ukraine.”

The Treasury did not immediately respond to a Reuters request for comment.