Fed’s Kaplan and Rosengren to sell all of their shares over ethics concerns

The Presidents of the Federal Reserve Banks in Boston and Dallas have said they will sell their individual stocks by September 30, in a bid to allay ethical concerns about their business activity last year.

Boston Fed chief Eric Rosengren and Dallas Fed’s Robert Kaplan issued nearly identical statements on Thursday after their latest financial reporting documents showed active trading in a range of investments over the course of a year in which the central bank took sweeping political action to protect the U.S. economy from Covid -19.