The Fed’s vice chair is resigning early after trading scandal deepened.
Richard Clarida, the vice chair of the Federal Reserve, will leave on Jan. 14, two weeks ahead of schedule. He did not give a reason.
Richard H. Clarida, the Federal Reserve’s vice chair, announced on Monday that he would resign from his position two weeks earlier than planned. While he did not give a reason, the announcement came as he faced more scrutiny about trades he made in 2020 as the central bank was poised to rescue financial markets.
“With my statutory term as governor due to expire on Jan. 31, 2022, I am writing to inform you that it is my intention to resign from the board on Jan. 14, 2022,” Mr. Clarida wrote in a letter to President Biden that the Fed released Monday.
The New York Times reported last week that Mr. Clarida had corrected his 2020 financial disclosures in late December in a way that ethics professionals said raised questions about one of his trades.
This story is developing. Check back for updates.