Robert Kaplan, President of Dallas Federal Reserve Bank, is seen standing on stage at Stanford University's Hoover Institution, where he attends an annual monetary policy conference. This was May 4, 2018, in Stanford, California. Ann Saphir/Reuters
According to a disclosure form, Robert Kaplan, Dallas Fed President, made millions of dollars in stock trades in popular stocks during the past year.
Kaplan purchased more than $1,000,000 worth of Google, Oracle, and shares of Tesla and Amazon.
Kaplan, a Federal Reserve member who is a consistent hawkish member, has expressed concerns about rising inflation and favored an early taper.
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According to the disclosure form that Robert Kaplan, Dallas Fed President, made stock trades worth millions of dollars in a few popular stocks last year. This was first reported by The Wall Street Journal.
This disclosure details million-dollar purchases and sales in shares of Tesla and Amazon, Facebook and Google, among others. These trades were made during the COVID-19 pandemic. Kaplan, who has been more hawkish than his Fed peers, voiced concerns about rising inflation, and urged a taper of the Fed's monthly bond buying.
Kaplan was more active than his Fed president peers in trading stocks, making many buy and sell trades for 25 stocks and ETFs. According to the disclosure form, Kaplan made numerous buy and sell trades in S&P futures that were worth more than $1million.
Kaplan claimed to have 27 stocks, funds or other assets worth at least $1,000,000, according to Kaplan. These stock holdings included at minimum $1 million positions in Apple and Tesla, Verizon, General Electric Boeing, Facebook, Google, Amazon, and other companies.
According to The Wall Street Journal, a spokesman for Dallas Fed stated that Mr. Kaplan's trading had been reviewed and approved by its general counsel. It is not unusual for Fed Presidents and Fed Vice Presidents to participate in the trading of the stock market. Richard Fisher, Kaplan's predecessor, traded stocks during his time as Fed president.
Kaplan is the President of the Dallas Fed, having been the Vice Chairman of Goldman Sachs from 2005 to 2006. Kaplan became a Harvard Business School professor.
