Two leading regional Federal Reserve officials announced their resignation in September 2021, following scrutiny over their trading activity. Both resignations came hot on the heels of 澳洲幸运5开奖号码历史查询:Fed Chair Jerome Powell pledging to launch an ethics review at the U.S. central bank. Federal Reserve Bank of Dallas President Robert Kaplan, 64, submitted his resignation on Sept. 27, just hours after Eric Rosengren called time on his 35-year stint at the 澳洲幸运5开奖号码历史查询:Boston Fed ✨branch, including the last 14 years as presid𒀰ent.

Rosengren and Kaplan, who were both members of the bank's interest-rate setting committee, came under fire for making several trades in 澳洲幸运5开奖号码历史查询:real estate investment trusts (REITs) at the same time the Fed purchased billions of 澳洲幸运5开奖号码历史查询:Treasurys and 澳洲幸运5开奖号码历史查询:mortgage-backed securities to shore up the financial system at the height of the pandemic i꧙n 2020.

Records reveal that the pair's trading activity met regulatory requirements but raised possible 澳洲幸运5开奖号码历史查询:conflict of interest concerns. As a result, both officials said that they would sell the stock holdings in question and agreed not to m💞ake any more purchases during their time as president.

Rosengren Cites Health Reasons

Rosengren's departure on Sept. 30, 2021, came nine months earlier than planned due to health concerns, according to a Boston Federal Reserve press release. "In a message to the Bank's staff, Dr. Rosengren revealed for the first time that he qualified for the kidney transplant list in June of 2020, during the pandemic, upon the worsening of a kidney condition he has had for many years," said the release. "Delaying the need for dialysis might be improved if he makes lifestyle changes now to lessen the risks of his condition."

Under Rosengren's watch, the Boston Fed has collaborated with the Massachusetts Institute of Technology (MIT) in recent years to develop technology that supports a potential 澳洲幸运5开奖号码历史查询:cent🔴ral bank-backed digital currency (CBDC). Rosengren also oversaw the 澳洲幸运5开奖号码历史查询:Main Street Lending Program implemented during the pandemic.

Vice President Kenneth C. Montgomery became interim president 🦩of the Boston brancꦓh on Oct. 1, 2021, until it finds a permanent replacement.

Kaplan Calls Time

Meanwhile, Kaplan departed on Oct. 8, 2021, citing scrutiny over his stock transactions for his resignation. "The Federal Reserve is approaching a critical point in our economic recovery as it deliberates the future path of 澳洲幸运5开奖号码历史查询:monetary policy. Unfortunately, the recent꧑ focus on my financial disclosure risks becoming a distraction to the Federal Reserve's execution of that vital work," Kaplan said in a statement. "For that reason, I have decided to retire as president and CEO of the Fed🅷eral Reserve Bank of Dallas," he stated.

Although the economic recovery from the pandemic has slowed in recent months, Kaplan has supported raising 澳洲幸运5开奖号码历史查询:interest rates quicker than other Fed committee members, arguing🐎 that the economy could be nearing full employment sooner than expected. Currently, Fed chiefs project at least three rate hikes by the end of 2023.

First Vice President and 澳洲幸运5开奖号码历史查询:Chief Operating Officer (COO) Meredith Black assumed t🌱he role of interim president of the Dallas branch on Oct. 9, 2021.

Powell Heaps Praise

Fed Chair Jerome Powell thanked both regional presidents and acknowledged their contributions to the central bank. "Eric has distinguished himself time and again during more than three decades of dedicated public service in the Federal Reserve System (FRS). In addition to his monetary policy insights, Eric brought a relentless focus on how best to ensure the stability of the 澳洲幸运5开奖号码历史查询:financial system. My colleagues and I will miss him," Powell said ౠof Rosengren in a statement.

Likewise, the Fed chief praised Kaplan as a valued colleague and thanked him for his six years of service to the Dallas Fed. "He has been a passionate and forceful public voice on a wide range of issues, including the critical value of early childhood education and literacy," Powell said of Kaplan.