Federal Reserve Vice President Richard Clarida intends to step down from the Board of Governors on January 14, two weeks before his term expires.
Clarida’s unexpected early departure comes after it was revealed last week that in February 2020 she had sold shares in an American fund worth at least one million dollars, which she had bought days earlier, as the sale took place on the eve of the announcement. by the central bank of a key decision, according to the revised financial disclosure statement.
This comes after Clarida first included the sale of the fund’s shares in the revised financial disclosure form, which was submitted to the government last month, according to “Bloomberg” and seen by “Al Arabiya.”net”.
“Richard’s contributions to our monetary policy deliberations and his guidance of the Federal Reserve’s first public review of our monetary policy framework will have a lasting impact on central banks,” Fed Chairman Jerome Powell said Monday. in a declaration.
Clarida has been a board member and vice president since September 17, 2018. President Joe Biden has appointed Federal Reserve Governor Lyle Brainard to succeed Clarida.
The Senate Banking Committee will hold a hearing on his nomination Thursday, two days after Powell appeared before the committee to discuss his nomination for a second term as president.
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