Fed's Kaplan to leave job Oct. 8, citing trading activities

FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan stands on a stage at Stanford University’s Hoover Institution where he was attending an annual monetary policy conference in Stanford, California, U.S., May 4, 2018. REUTERS/Ann Saphir

(Reuters) – Dallas Federal Reserve Bank President Robert Kaplan on Monday said he will leave his job on Oct. 8 to eliminate any “distraction” to the central bank related to his personal investment activities.

“The recent focus on my financial disclosure risks becoming a distraction to the Federal Reserve’s execution of that vital work,” Kaplan said in a statement, in which he also said his trading followed the bank’s compliance rules and standards.

The announcement came hours after Boston Fed President Eric Rosengren said he would leave his job on Sept. 27, and followed public outcry that the two had traded in securities even as they played key roles in deciding U.S. monetary policy.

Source: Read Full Article