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Fed’s Outgoing Vice Chair Richard Clarida’s ‘Rebalancing’ Trades Ignite Fed Trading Ethics Scandal

Fed’s Outgoing Vice Chair Richard Clarida’s ‘Rebalancing’ Trades Ignite Fed Trading Ethics ScandalMembers of the U.S. Federal Reserve are getting criticized this week after the central bank published its minutes report from the policy meeting on December 14-15. Following the update, the outgoing vice chair of the Federal Reserve’s trading activities has reignited ethics conversations. Richard Clarida’s Trades Under Scrutiny The U.S. central bank can shake up […]

US Bitcoin reserve could slash national debt 35% by 2049: VanEck

Digital dollar advocate will retire as Dallas Fed president

At a November 2020 virtual conference, Rob Kaplan said "it is critical that the Fed focuses on developing a digital currency in the coming months and years."

Rob Kaplan, the president and chief executive officer of the Federal Reserve Bank of Dallas will step down from his position after more than six years.

In a Sept. 27 announcement, the Dallas Fed said Kaplan, its 13th president and CEO, would be retiring beginning Oct. 8. The 64-year-old cited recent attention to his “financial disclosure risks” in his decision to step down, likely referring to news outlets reporting that he had traded stocks in companies including Apple, Alibaba, Amazon, Facebook, Google and Tesla in 2020 while casting his vote on U.S. monetary policy.

The Dallas Fed president has denied any allegations of impropriety, saying he “adhered to all Federal Reserve ethical standards and policies.” He added his “securities investing activities and disclosures met Bank compliance rules and standards.”

Kaplan was also an advocate for the U.S. developing a central bank digital currency, or CBDC, as part of the country’s economy and fiscal policy. At a November 2020 virtual conference, the president said “it is critical that the Fed focuses on developing a digital currency in the coming months and years.”

Related: It's now or never — The US has to prepare itself for digital currency

On the national stage, Fed chair Jerome Powell said the government agency was still undecided on a digital dollar, but planned to issue a discussion paper on the subject. Powell has often said it is more important “to get it right than it is to be first” when it comes to rolling out a CBDC in the United States.

US Bitcoin reserve could slash national debt 35% by 2049: VanEck

After Fed Members Disclose Million-Dollar Stock Trades Fed’s Powell Initiates Ethics Inquiry

After Fed Members Disclose Million-Dollar Stock Trades Fed’s Powell Initiates Ethics InquiryThe Federal Reserve chairman Jerome Powell has directed his staff to start an ethics inquiry into the financial activities of Fed members, as a number of senior central bank officials are being questioned for their investments. Reports indicated last week that the president of the Dallas Federal Reserve branch, Robert Kaplan, benefitted from “multiple million-dollar-plus […]

US Bitcoin reserve could slash national debt 35% by 2049: VanEck

Federal Reserve Bank President Says Bitcoin Is Clearly a Store of Value

Federal Reserve Bank President Says Bitcoin Is Clearly a Store of ValueThe Federal Reserve Bank of Dallas president says bitcoin is clearly “a store of value.” Emphasizing the differences between cryptocurrencies, like bitcoin, and central bank digital currencies, he said the latter “won’t necessarily be a store of value.” Fed Bank Chief Calls Bitcoin a Store of Value The president of the Federal Reserve Bank of […]

US Bitcoin reserve could slash national debt 35% by 2049: VanEck