Federal Reserve Governor Adriana D. Kugler submitted her resignation on August 1, 2025, effective August 8, stepping down months before her term was scheduled to end in January 2026. In her resignation letter addressed to President Trump, Kugler offered no explanation for her early departure, …
The Federal Reserve announced comprehensive trading restrictions for senior officials following a major financial ethics scandal. In response to controversial trades by regional Fed bank presidents Robert Kaplan and Eric Rosengren during the Covid-19 pandemic, the Fed imposed strict new rules …
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In September 2021, Boston Federal Reserve President Eric Rosengren resigned amid a trading scandal revealing he actively traded Real Estate Investment Trusts (REITs) and mortgage-backed securities during 2020, while the Federal Reserve was simultaneously purchasing such assets. A 2024 watchdog …
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Federal Reserve Bank of Dallas President Robert Kaplan resigned on September 27, 2021, after disclosure of extensive stock trading during the 2020 pandemic. Kaplan had made multiple trades worth over $1 million in companies like Amazon, Apple, and Delta Air Lines while serving as a voting member of …
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Federal Reserve Vice Chairman Richard Clarida rotated between $1-5 million from Pimco bond funds into stock funds on February 27, 2020, just one day before Fed Chair Powell’s emergency statement about coronavirus risks. Clarida sold multiple ETFs during the market’s COVID-19 downturn and …
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