Robert Kaplan Steps Down as Dallas Fed Chief

The transcript discusses the resignations of Rob Kaplan and Eric Rosengren from the Federal Reserve due to controversies surrounding their financial trades. Kaplan cited his trades as a distraction, while Rosengren mentioned health reasons. The Federal Reserve is concerned about its political image and the potential reaction from Congress. The transcript highlights the ethical standards and political pressures faced by the Fed.

Why did Rob Kaplan decide to step down from his position?

• Due to health reasons

• Because of legal issues

• To pursue a new career opportunity

• To avoid distraction from financial disclosure focus

What was notable about Kaplan's trading activities?

• They involved millions of dollars

• They were conducted in secret

• They were minor and infrequent

• They were illegal

What was Kaplan's professional background before joining the Federal Reserve?

• A politician in Washington

• A lawyer at a top firm

• A professor at a university

• A Co-chairman at Goldman Sachs

What was the Federal Reserve's main concern regarding the controversy?

• The political perceptions

• The legality of the trades

• The media coverage

• The financial impact

What was the potential consequence feared by the Federal Reserve if perceived as having ethical problems?

• Financial losses

• Negative reaction from Congress

• Increased media scrutiny

• Loss of public trust