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9/27, 10:04 PM (Source: TeleTrader)
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Kaplan to step down from Dallas Fed president post

The Federal Reserve Bank of Dallas announced on Monday that its President Robert Kaplan will retire on October 8.

"The Federal Reserve is approaching a critical point in our economic recovery as it deliberates the future path of monetary policy. Unfortunately, the recent focus on my financial disclosure risks becoming a distraction to the Federal Reserve's execution of that vital work," Kaplan's statement read.

Kaplan has spent 6 years at the helm of the Federal Reserve's Dallas branch. Earlier today, Eric Rosengren, Boston Federal Reserve president, also unveiled he will retire.

Breaking the News / BU