Top US central banker resigns amid trading scandal

Top US central banker resigns amid trading scandal

Newsdesk |
January 11, 2022

Federal Reserve Board vice chair Richard Clarida has announced he will step down two weeks before his term is set to expire. His recently amended 2020 financial disclosures raised speculation about potential insider trading.

New Delhi, 11 January 2022

As per news report of, nominated by President Donald Trump and confirmed in September 2018, Clarida was the top aide to Fed Chairman Jerome Powell. His resignation will be effective January 14, the Fed announced on Monday. Clarida’s resignation comes shortly after media reports questioning his stock trades in February 2020, just before market upheavals due to the spread of the novel coronavirus. Clarida submitted revised financial disclosures last month, with the Fed saying his initial report contained “inadvertent errors.”

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