Fed’s Kaplan, Rosengren to Sell All Stocks Amid Ethics Concerns

Catarina Saraiva
Thu., September 9, 2021, 3:30 p.m.·1 min read

(Bloomberg) -- The presidents of the Federal Reserve banks of Boston and Dallas said Thursday they would sell their individual stock holdings by Sept. 30 and invest the proceeds in diversified index funds or hold them in cash.

Eric Rosengren, head of the Boston Fed, and Robert Kaplan, president of the Dallas Fed, released near-identical statements Thursday after their 2021 financial disclosure documents showed investments in a variety of stocks and other financial instruments.

Rosengren’s disclosure listed stakes in four separate real estate investment trusts and disclosed multiple purchases and sales in those and other securities, the documents show.

Kaplan, a former Goldman Sachs Group Inc. executive, showed multiple $1 million-plus transactions last year as the U.S. economy was convulsed by Covid-19.