Two U.S. Bank Governor criticize financial transactions for retiring one after another | Reuters

Rosengren, president of the Boston District Federation, announced on the 27th and 30th that he will retire. He revealed that he was the target of a kidney transplant in June 2020, and said he would like to “change his lifestyle” for his own health. Taken in April 2013 (2021 Reuters / Keith Bedford)

[Washington, 27th Reuters]–Kaplan, president of the Dallas Federated Bank, and Rosengren, Governor of the Boston Federated Bank, announced on the 27th that they will retire one after another. Both men have been criticized for investing in financial products last year.

Kaplan will retire on October 8th and Rosengren will retire on September 30th.

Rosengren has announced that he will retire for health reasons. “Unfortunately, my recent attention to financial disclosure has been a hindrance to the Fed’s important role,” Kaplan said. However, it does not violate the Fed Code of Ethics regarding financial transactions.

They were criticized as the FRB took unusual monetary easing measures to support the economy last year, pushing up the prices of financial assets and actively conducting financial transactions such as stocks. Some have questioned Fed officials’ guidelines on financial transactions.

Earlier this month, Powell called for a review of the Fed’s Code of Ethics and said policies need to be changed.

In addition to the chairman / vice-chairman and directors, the governor of the New York Fed, four of the remaining 11 district Fed governors have the right to vote for the US Federal Open Market Committee (FOMC) on an annual turn to decide monetary policy. ..

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The Dallas Fed’s interim governor will be Black’s first vice-president, and the Boston Fed’s interim governor will be Montgomery’s first vice-president.

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