The Federal Open Market Committee announced Friday that it has “unanimously formally adopted comprehensive new rules for the investment and trading activity of senior officials.”
The rules were first announced in October last year to strengthen “the impartiality and integrity of the Committee’s work by guarding against even the appearance of any conflict of interest,” the announcement details, elaborating: In addition, they are also banned from “purchasing individual stocks or sector funds,” “entering into derivatives contracts,” and “engaging in short sales or purchasing securities on margin.” Cryptocurrency was not included in the October announcement.
The Federal Reserve expects the rules to apply to additional staff after further review and analysis.
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Fed senior officials will soon not be allowed to trade crypto, stocks and bondsThe rules were intended to “support public confidence ... by guarding against even the appearance of any conflict of interest.”
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