Fed’s Rosengren, Kaplan will sell all of their personal stocks and reinvest them in funds by September 30

Reuters came out with the news, during early Friday morning in Asia, suggesting that Dallas Fed President Robert Kaplan and Boston Federal Reserve President Eric Rosengren both would sell their individual stock holdings by the end of the month to address the appearance of conflicts of interest.

“They would invest the proceeds of those sales in diversified index funds and cash savings and that they would not trade in those accounts as long as they are serving in their roles,” said the news further.

FX reaction

While the news should have weighed on the stocks, the Wall Street close limits the market reaction. The same applies to US President Joe Biden's six-pronged strategy announcement that gained a little attention amid early trading hours of Asia.

Read: US President Biden: We are in a tough stretch on covid and it could last for a while