intends to vice president Federal Reserve Board Richard Clarida, resigning from the Board of Governors on January 14, two weeks before the end of his term.
Clarida’s unexpected early departure comes following it was revealed last week that he sold shares in an American fund of at least one million dollars in February 2020, which he had bought days earlier, as the sale came on the eve of the central bank’s announcement of a fundamental decision, according to the revised financial disclosure statement.
This comes following Clarida included the sale of the fund’s shares for the first time in the amended financial disclosure form, which was submitted to the government last month, according to “Bloomberg” and seen by “Al Arabiya.net”.
“Richard’s contributions to our monetary policy deliberations, and his leadership of the Federal Reserve’s first public review of our monetary policy framework, will have a lasting impact on central banking,” Fed Chair Jerome Powell said in a statement Monday.
Clarida has served as a board member and vice president since September 17, 2018. President Joe Biden nominated Federal Reserve Governor Lyle Brainard to succeed Clarida.
The Senate Banking Committee will hold a hearing on her nomination on Thursday, two days following Powell appeared before the committee to discuss his nomination for a second term as chair.
