The Federal Reserve Bank of Dallas President Robert Kaplan has made numerous million-dollar-plus stock trades in 2020, unlike other Fed Presidents who reported modest financial holdings.
- Eleven of the 12 regional Fed banks have made disclosures of their leaders’ 2020 financial profiles since Friday, sharing data that gives insights into the holdings of the officials who set the central bank’s monetary policy.
- Mr. Kaplan has been one of the Fed’s vocal voices warning that high levels of monetary stimulus are increasing risk levels in the financial sector.
- In the disclosure form, the Dallas Fed, Mr. Kaplan had a total of 27 individual stock, fund, or alternative asset holdings, each worth more than $1 million.
- Mr. Kaplan’s stockholdings consisted of Apple Inc, Amazon Inc., Boeing Co., Alphabet Inc., Facebook Inc., and Marathon Petroleum Corp.
- The form also reveals Mr. Kaplan made some combined sales and purchases of more than $1 million in 22 individual company shares or investment funds.
The Fed’s 12 regional banks are quasi-private institutions that are owned by member banks and overseen by boards of directors obtained from the private sector.
Source: The Wall Street Journal