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January 11, 2022

Fed vice chair is latest to quit in trading scandal

AP Economics Writer

WASHINGTON — Federal Reserve Vice Chair Richard Clarida said Monday that he will step down on Friday, the third Fed official to resign in the wake of a trading scandal at the central bank.

The announcement followed new revelations around Clarida's trading in a stock fund in February 2020, when the coronavirus threatened to upend the global economy and the Fed was discussing extraordinary measures to counter its impact.

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