Revolving Door: Dallas Fed Names Robert Kaplan New Head

The Federal Reserve Bank of Dallas has picked, Robert Steven Kaplan, a former Goldman Sachs executive as its new president. This means that three of the Federal Reserve presidents are now Goldman Sachs alums; New York, Dallas and Philly, or  put another way 25% of Fed Presidents are from one bank.

Mr. Kaplan replaces Richard Fisher, who retired from the bank in March after a decade on the job (and went to work for Barclays).

Mr. Kaplan was vice-chairman of Goldman Sachs Group

Mr. Kaplan, 58, is the Martin Marshall Professor of Management Practice and a Senior Associate Dean at...