Dallas Fed President Robert Kaplan resigns after controversy over stock market trading

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Dallas Federal Reserve President Robert Kaplan became the second regional central bank leader to resign Monday, saying he was stepping down early following a recent controversy over stock market trades he made.Kaplan’s early retirement follows an announcement earlier in the day from Boston Fed President Eric Rosengren, who said he will leave. He cited health concerns, and not the issue over his investment portfolio activity.“The Federal Reserve is approaching a critical point in our economic recovery as it deliberates the future path of monetary policy. Unfortunately, the recent focus on my financial disclosure risks becoming a distraction to the Federal Reserve’s execution of that vital work,” Kaplan said in a statement."The recent focus on my financial disclosure risks becoming a distraction to the Federal Reserve’s execution of [its] vital work."His retirement takes effect Oct. 8. The resignations come a day before Fed Chair Jerome Powell is to spend two days on C
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