(Bloomberg) — One of the Federal Reserve’s largest internal critics of the risks in U.S. real estate was an active investor in the sector last year, financial disclosures show.
Boston Fed President Eric Rosengren listed stakes in four separate real estate investment trusts and disclosed multiple purchases and sales in those and other securities, the documents show.
Boston Fed spokeswoman Lucy Warsh confirmed that Rosengren’s trades were not conducted via a blind trust but “his investment decisions are consistent with the system’s strong ethics rules and time frames.”
Separate filings for Dallas Fed chief Robert Kaplan, a former Goldman Sachs Group Inc. executive, showed multiple $1 million-plus transactions last year as the U.S economy was convulsed by Covid-19. He also disclosed a $1 million-plus stake in the Kansas City Royals baseball team.
The U.S. central bank slashed interest rates to zero in March as the pandemic spread and began buying…