(WBAP/KLIF) — The president of the Federal Reserve in Dallas is resigning amid controversy. After six years as CEO of the Federal Reserve Bank of Dallas, Rob Kaplan is resigning.
The 64 year old came under fire for trading stocks during the pandemic while voting on critical monetary policy. The investments Kaplan made are allowed under federal rules, however he chose to resign to avoid being a distraction to the bank’s purpose in the economic recovery from the pandemic. According to the Dallas Morning News, Kaplan’s retirement is effective October 8th first vice president Meredith Black will serve as interim president during the transition.
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(Copyright 2021 WBAP/KLIF Newsroom News. All rights reserved. Contains material from the Dallas Morning News.)
