Goldman Sachs has appointed Robert Kaplan, former president of the Federal Reserve Bank of Dallas, as its vice chairman.
Kaplan got himself in trouble with his trading activities whilst head of the Dallas Fed, and resigned.
Which was a shame. Kaplan was a lone and early voice warning that inflation was not transitory and the Fed should cut back on easing. No one around the FOMC table listened to him. The FOMC, eventually, finally, and way too late, listened and then had to raise rates rapidly and higher than it would have otherwise, to combat the CPI surge.
