WASHINGTON—The Boston Federal Reserve will not release documents that could show whether its former president vetted a series of personal investments last year with its ethics officer, a spokesman for the regional Fed bank said, a key point in an ongoing ethics controversy at the U.S. central bank. Eric Rosengren, along with Dallas Fed President…
Fed’s Powell Pledges Diversity Focus in Filling Reserve Bank Openings
WASHINGTON—U.S. Federal Reserve Chair Jerome Powell on Thursday promised to redouble efforts to find “diverse candidates” to replace two high-profile officials who resigned this week after criticism of their securities trading, as the central bank tried to regroup from a blow to its typically staid, technocratic image. “I can absolutely guarantee you that we will…
Dallas Fed Chief Robert Kaplan to Resign Following Stock Trade Controversy
Dallas Federal Reserve President Robert Kaplan on Monday announced his resignation, with the move coming in the wake of recent controversy over stock trades he made during the pandemic, when the Fed took extraordinary measures that lifted the economy and boosted markets. The announcement, which came in a Sept. 27 press release from the Dallas Fed,…
Boston Fed Chief to Retire Early Due to Health, With Ethics Concerns Over Trades in Background
Boston Federal Reserve president Eric Rosengren has announced he is retiring nine months ahead of schedule, citing deteriorating health from a longstanding kidney condition, with the announcement following recent controversy over trades he made during the pandemic. Rosengren’s announcement, which came in a Sept. 27 letter (pdf) to Federal Reserve Chair Jerome Powell, follows an uproar…
Trading Tantrum? Fed Officials’ Personal Dealings Stir Controversy, Call for Change
Media reports this week that two of the Federal Reserve’s 12 regional bank presidents were active traders has some of the central bank’s most vocal critics questioning the rules that allowed them to engage in the transactions in the first place. Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren made frequent or…
Fed Officials to Sell Stocks to Avoid Apparent Conflict of Interest
Two Federal Reserve officials said on Thursday they would sell their individual stock holdings by the end of the month to address the appearance of conflicts of interest. Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren issued statements saying they would invest the proceeds of those sales in diversified index funds and…
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