Two federal reserve presidents anouncing early retirement on the same day, What’s behind their early departure? A power crunch in China. Factories across the country halting production, and residents facing power cuts as the temperature falls. We talk to one American business owner who has also been affected. And thousands of gas stations in the…
Boston Fed Chief to Retire Early Due to Health, With Ethics Concerns Over Trades in Background
Boston Federal Reserve president Eric Rosengren has announced he is retiring nine months ahead of schedule, citing deteriorating health from a longstanding kidney condition, with the announcement following recent controversy over trades he made during the pandemic. Rosengren’s announcement, which came in a Sept. 27 letter (pdf) to Federal Reserve Chair Jerome Powell, follows an uproar…
Longtime Merck CEO Ken Frazier to Retire
Ken Frazier, the longtime chief executive of Merck and one of the few remaining black CEOs of a Fortune 500 company, is retiring. Frazier, Merck’s CEO for the past decade, will be replaced by Rob Davis, the chief financial officer, the company said Thursday. Frazier will become executive chairman of the board during a transition…
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