Two Fed officials retire amid scrutiny over investment trades

Economy20 minutes ago (Sep 27, 2021 04:37PM ET)

(C) Reuters. FILE PHOTO: The Federal Reserve Bank of Boston’s President and CEO Eric S. Rosengren speaks during the “Hyman P. Minsky Conference on the State of the U.S. and World Economies”, in New York, April 17, 2013. REUTERS/Keith Bedford

By Jonnelle Marte and Howard Schneider

WASHINGTON (Reuters) -Two Federal Reserve officials that came under scrutiny for investment trades they made last year announced their retirements on Monday.

Dallas Fed Bank President Robert Kaplan said on Monday afternoon that he will retire on Oct. 8, citing the “distraction” of the controversy that circled his investment decisions.

The announcement came after Boston Fed President Eric Rosengren announced earlier in the day that he will retire on Thursday, Sept. 30, citing a long-term health condition.

Rosengren revealed that he qualified for the kidney transplant list in June of 2020 and wanted to make “lifestyle changes” to protect his health, moving up his planned departure ahead of next June, when he reaches the mandatory retirement age of 65.

The two Fed officials faced public scrutiny for investment trades last year that had raised questions about the effectiveness of Fed ethics rules.

Two Fed officials retire amid scrutiny over investment trades

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