Federal Reserve Bank of Boston President Eric Rosengren will retire Thursday, about nine months early, citing health reasons, as the veteran policymaker was navigating a controversy over his trading in the financial markets.
Mr. Rosengren, 64 years old, said in a statement released by the Boston Fed that he was leaving as he had qualified for a kidney transplant to deal with a long-running condition. The move accelerates the timing of Mr. Rosengren’s mandatory retirement from the bank next year after 35 years of service at the institution. In most cases, regional Fed leaders must retire at 65, and Mr. Rosengren was due to leave the bank next June.
His retirement follows the recent disclosure that Mr. Rosengren traded stocks and other investments while also helping to set monetary policy. Mr. Rosengren’s trading, along with more significant trading by Dallas Fed leader Robert Kaplan, alarmed some central bank watchers.
Recently disclosed information from the Boston Fed showed that Mr. Rosengren, who would have held a voting role on the rate-setting Federal Open Market Committee next year, had traded stocks and other investments related to the real estate industry last year.
Popular stories from WSJ.com: