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Fed Board Unable to Disclose Details on Kaplan Trades, Powell Says

Jerome Powell
Jerome PowellPhotographer: Matt McClain/The Washington Post/Bloomberg

U.S. Federal Reserve Chair Jerome Powell said that he was unable to disclose further details on the trading activity of Robert Kaplan, former president of the Dallas Fed who resigned last year, and that the matter is in the hands of the board’s inspector general. 

“We don’t have that information at the board and I asked the Inspector General to do an investigation and that is out of my hands,” Powell told reporters at a virtual press conference on Wednesday following a meeting of the policy-setting Federal Open Market Committee. “I play no role in it and I seek to play no role in it. I can’t help you here today on this issue. I’m sorry I can’t.”