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Fed’s Kaplan to leave job Oct. 8, citing trading activities By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO. Robert Kaplan, President of the Dallas Federal Reserve Bank, stands at Stanford University’s Hoover Institution, where he attended an annual conference on monetary policy in Stanford (California), U.S.A, 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.

Kaplan stated that the recent attention on his financial disclosure could distract from the Federal Reserve’s vital work. He also noted that his trading complied with the bank’s standards and compliance regulations.

This announcement was made hours after Eric Rosengren of Boston Fed announced that he will be leaving on September 27th. It followed outcry from the public about how Kaplan and Rosengren had traded in securities, while they were key players in U.S. monetary policy.

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