The Federal Reserve system plans to reduce its staff count by 10% over the coming years, primarily through attrition, its leader told employees in an internal memo Friday. Why it matters: The Fed is structured to be independent from the executive branch,

In a message to board employees, the central bank chair said “changes around staffing and operations can be challenging."

The Federal Reserve plans to shrink its workforce by about 10% over the coming years, bringing the U.S. central bank in line with President Donald Trump's broader efforts to streamline the federal government,