Fed’s Clarida Announces Resignation

Fed policymaker Richard Clarida announced on Monday that he would resign from his post as Vice Chairman of the FOMC on Friday, two weeks before his term on the central bank’s board of governors had originally been scheduled to end. His announcement of early resignation follows a recent increase in public scrutiny over transactions he made in late February 2020, just as global equity markets had begun to crash as the Covid-19 pandemic embroiled the globe.

Analyzes indicate that this premature resignation comes after increased scrutiny last year of the transactions conducted by the US Fed member in late February 2020 when global stock markets began to crash as the Coronavirus pandemic spread globally.