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Fed Officials to Sell Stocks to Avoid Apparent Conflict of Interest

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

Two Federal Reserve officials said on Thursday they would sell their individual stock holdings by the end of the month to address the appearance of conflicts of interest. Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren issued statements saying they would invest the proceeds of those sales in diversified index funds and cash savings and would not trade in those accounts as long as they are serving in their roles. The announcements come after the officials faced scrutiny over trades they made last year, according to their financial disclosure forms. In the forms, first reported by the Wall Street Journal, Kaplan disclosed he held a total of 27 investments in individual stock, fund, or alternative assets that were valued at over $1 million each. He also made sales or purchases of at least $1 million in 22 individual company shares or investment funds, the report noted. The …

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