Mr. Kaplan and Mr. Rosengren said earlier this month that they would sell all individual stock holdings by Sept. 30, even though they cleared Fed rules and ethical guidelines, according to Bloomberg.
Mr. Kaplan, who has led the Dallas Fed since 2015, said in a statement that the recent focus on his financial disclosure has become a distraction, which is the reason he's retiring. However, he reiterated, "During my tenure, I have adhered to all Federal Reserve ethical standards and policies. My securities investing activities and disclosures met Bank compliance rules and standards."
Mr. Rosengren revealed in a statement that he qualified for a kidney transplant in June 2020, upon the worsening of a condition he has had for many years. Delaying the need for dialysis might be improved if he makes lifestyle changes now to lessen the risks of his condition, according to his statement.
"It has been an honor to serve at the Federal Reserve system, in a job where one can be constantly engaged in pursuing the economic and financial well-being of the country and New England," said Mr. Rosengren, who has led the Boston Fed since 2007.
Kenneth C. Montgomery, the Boston Fed's first vice president and chief operating officer, will serve as interim president and CEO, while Meredith Black, first vice president and chief operating officer, will lead the Dallas Fed on an interim basis.
