In late 1944/early 1945, Coe was named Director of the Division of Monetary Research in the Treasury Department, serving as technical secretary at the United Nations Monetary and Financial Conference at Bretton Woods, New Hampshire in 1944, he accepted a position as Secretary of the International Monetary Fund in 1946, his successor at Treasury being Harold Glasser.
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Eddy's suspension arose from his associations with and open support of alleged communists, including Lauchlin Currie, Harry Dexter White, V. Frank Coe, Robert C. Barnard, Emile Despres, William Ludwig Ullman, Harold Glasser, Solomon Adler, and William Henry Taylor.