The ban includes top policymakers such as those who sit on the Federal Open Market Committee, along with senior staff. Future investments will have to be confined to diversified assets such as mutual funds.
“These tough new rules raise the bar high in order to assure the public we serve that all of our senior officials maintain a single-minded focus on the public mission of the Federal Reserve,” Fed Chair Jerome Powell said in a statement. The rules come on the heels of disclosures that multiple Fed officials had been buying and selling stocks at a time when the central bank’s policies were designed to improve market functioning, particularly during the Covid crisis.
Vice Chairman Richard Clarida also had been featured in the reports. Powell also sold securities last year, though they were exchange-traded funds that tracked market indexes.
These Rules should also be extended to the House and Senate as should blackouts on Trading when Congress has InsiderInformation on companies. InsiderTrading bans at the Fed ... will they finally apply to Congress
profkakie Now Congress.
There always the possibility of deferred benefits!
More than badly needed; it is absolutely necessary. Let’s see how long it will take for the lawyers to find a loophole around this one.
Now do politicians
1: Finally. 2: Now federal politicians.
Bout 100 years too late
Ban Senators and Congress too? Pelosi has amassed a $120M fortune.
HOWABOUT CRYPTO BITCOIN ETHEREUM $SHIB $HBAR ?