Richard Clarida, the Federal Reserve’s vice chair, announced Monday that he will resign, following more revelations of his stock trading at the beginning of the coronavirus pandemic.

Clarida, whose term as the Fed’s second-in-command was to expire at the end of this month, sent a letter to President Biden on Monday saying he would resign on Jan. 14. He’s the third Fed official in recent months to resign over questionable trades during the pandemic, as the Fed began its tremendous intervention to support the financial system. These trades are now under review by an inspector general, as the officials were in a position to possibly benefit from insider knowledge of economic conditions.

Scrutiny over Clarida’s disclosures began in October after initial reports from Bloomberg News showed that he bought shares in February 2020 of an investment fund that held stocks, just before the Fed announced it was prepared to help the economy as the pandemic began to take hold, bringing confidence to the markets.

Attention on Clarida’s trades intensified last week after the New York Times reported that Clarida initially failed to disclose the full extent of his trading. Clarida corrected his public disclosures of stock trades in December, showing that he moved money out of a stock fund as the pandemic spread and the markets fell. Then three days later, after the markets plunged, Clarida moved money back into the same fund, just before the Fed announced it was prepared to step in and provide new economic supports to the financial system.

“This is a shocking and disturbing development, which raises further questions about the policies and procedures for trading by Fed governors. We need a full investigation of who traded what, when, and on the basis of which nonpublic information in 2020 and 2021,” said Simon Johnson, an economist at the Massachusetts Institute of Technology.

Clarida declined to comment on Monday, through a spokesperson for the Federal Reserve.

Last week, a Fed spokeswoman said the reason Clarida updated his disclosure was because he had caught “inadvertent errors” that required changes to his disclosure forms. The spokeswoman said Clarida reviewed his financial transactions with the Fed’s ethics office. A letter accompanying Clarida’s amended forms from the Fed’s ethics officer said that even with the corrections, Clarida was still “in compliance with applicable laws and regulations governing conflicts of interest.”

Clarida’s resignation follows that of two other top Fed officials, Robert Kaplan and Eric Rosengren, who led the offices in Dallas and Boston, respectively. Both officials also left their posts after their stock trading behavior during the pandemic raised ethics questions and drew tremendous outside scrutiny.

Kaplan’s trading activity included 27 individual stocks, funds or alternative asset holdings, each valued at more than $1 million. Rosengren’s trading activities were on a much smaller scale but included stakes in four real estate investment trusts, at a time when Rosengren was publicly raising concerns for the commercial real estate sector.

Those resignations, which happened on the same day in September, did not end pressure on the Fed to seriously examine its own rules — and change them. Sen. Elizabeth Warren (D-Mass.) has asked that the Fed turn over and release documents related to the questionable trades.

“Clarida is the third senior Fed official to resign due to possible insider trading during the pandemic, which shows there is an epidemic of ethical and legal violations at the highest levels of the Federal Reserve that the chairman has failed to address,” said Dennis Kelleher, president of Better Markets, which advocates for stronger market regulation.

In response to reports of the questionable trades, the Fed announced a major tightening of its rules overseeing the personal financial activities of top officials. Fed Chair Jerome H. Powell is also likely to face sharp questions on the scandal and how the Fed will guard against similar trading in the future, when he testifies before the Senate Banking Committee on Tuesday for a hearing on his confirmation to a second term.

In his resignation letter to Biden, Clarida did not acknowledge the trading scandal. Powell said nothing about it in a brief statement on Monday in which he said Clarida’s contributions would “leave a lasting impact in the field of central banking.” Speaking at a conference in October, Clarida indirectly addressed attention on his financial activities.

“I’ve always acquitted myself honorably and with integrity with respect to the obligations of public service,” Clarida said at the time.