9/10, 1:25 AM (Source: TeleTrader)
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Fed's Kaplan, Rosengren sell stocks amid ethical concerns

United States Federal Reserve Bank of Boston President Eric Rosengren and his Dallas counterpart Robert Kaplan announced separately that they will sell their respective individual stock holdings by September 30 due to concerns about conflict of interest.

"While my personal saving and investment transactions have complied with the Federal Reserve's ethics rules, I have decided to address even the appearance of any conflict of interest," Rosengren noted, as Kaplan issued a similar statement.

Earlier this week, The Wall Street Journal, citing Kaplan's financial disclosure form, reported that he made a number of stock trades valued at over $1 million each in 2020.

Breaking the News / MS