Original title: sudden! Nine months ahead of schedule: Boston Fed Chairman Rosengren will retire on September 30th Powell praised his work at the Fed
Source: FX168
Rosengren (Eric Rosengren), chairman of the Boston Federal Reserve (Boston Federal Reserve), announced his resignation on Monday. Due to health reasons, he retired nine months ahead of schedule. The retirement plan, originally scheduled for June 2022, will take effect on Thursday.
After the regional Fed leader faced controversy over personal stock trading, Rosengren, 64, announced that he had been on the kidney transplant list since June 2020.
A statement from Rosengren's office said Rosengren's doctor told him that lifestyle changes might reduce the need for dialysis.
"it is an honor to serve in the Federal Reserve system, a position in which one can constantly pursue the economic and financial well-being of the country and New England," he said in a statement. " "I know that my colleagues will continue to build on our progress and continue to contribute to the public we serve."
The Fed has come under criticism in recent weeks after it emerged that several Fed officials owned and had been trading individual stocks, potentially in conflict with the Fed's role in financial markets.
Rosengren and Robert Kaplan, president of the Federal Reserve Bank of Dallas (Dallas Fed), were the most prominent figures in the dispute, and both subsequently promised to sell all their individual holdings.
The issue was not mentioned in the announcement of retirement. Rosengren "hopes to improve his health and eventually be able to explore areas of interest and contribution in the future," the statement said. "
The Boston Fed led a study of a potential central bank digital currency that would be similar to other cryptocurrencies such as bitcoin but pegged to the dollar to provide an alternative payment channel for Americans.
Federal Reserve Chairman Colin Powell praised Rosengren's work at the Fed, including managing the main street loan program implemented during the COVID-19 pandemic.
"in more than 30 years of public service at the Fed, Eric has performed well again and again," Powell said in a statement. In addition to his views on monetary policy, Eric has paid unremitting attention to how best to ensure the stability of the financial system. My colleagues and I will miss him. "