Top Fed official says he broke central bank trading rules | CNN Business

Federal Reserve Bank of Atlanta President Raphael Bostic said Friday he had inadvertently broken the central bank’s trading rules. New documents highlighted multiple violations. Bostic, who has led the Atlanta Fed for five years, made personal trades during blackout periods, when officials are prohibited from making financial transactions.

“I want to be clear: at no time did I knowingly authorize or complete a financial transaction based on nonpublic information or with any intent to conceal or sidestep my obligations of transparent and accountable reporting.” Two Fed presidents resigned last year after disclosures showed they had traded individual stocks in 2020, a period during which the Fed intervened in markets due to the pandemic-induced recession.

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