Speech by Vice chair Clarida at the "Conference on Monetary Policy Strategy, Tools, and Communications Practices" sponsored by the Federal Reserve, Federal Reserve Bank of Chicago, Chicago, Illinois

Business Money

·2 years ago··19

Federal Reserve Vice Chairman to Resign

The Vice Chairman of the Federal Reserve Richard Clarida is set to resign over questions about trades he made. The financial transactions were conducted when the pandemic started. Clarida reportedly sold a stock fund three days before purchasing the same investment again. Clarida initially said it was done in order to rebalance his portfolio. Pressure has grown and as a result Clarida is set to resign. However, Clarida’s term was set to expire at the end of the month so the resignation is not consequential to the Fed. Read the rest of the story at America News Nation.