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Dallas Fed begins search for new president, hires search firm -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Dallas Federal Reserve Financial institution President Robert Kaplan speaks throughout an interview in his workplace on the financial institution’s headquarters in Dallas, Texas, U.S. January 9, 2020. REUTERS/ Ann Saphir/File Photograph

(Reuters) – The Federal Reserve Financial institution of Dallas has kicked off its seek for a brand new president to exchange Robert Kaplan, the financial institution’s earlier prime govt who left final month after a scandal erupted over his private monetary transactions, it stated on Tuesday.

The financial institution’s search is being led by its non-bank administrators, it stated in an announcement, and it has employed the chief search agency Egon Zehnder to help it in recruiting potential candidates.

Kaplan retired Oct. 8 after a public outcry over private buying and selling by him and former Boston Fed President Eric Rosengren in the course of the peak of the pandemic disaster and the Fed’s efforts to stabilize markets and rescue the financial system.

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