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Fed Approves Rules Banning Its Officials From Trading Stocks, Bonds and Also Cryptocurrencies

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Fed officials won’t be able to trade stocks and bonds — as well as cryptocurrencies — under new rules that became formal Friday.

Federal Reserve officials will be restricted from owning individual stocks, bonds and other assets under rules announced Friday that first were set forth in October.

They follow a controversy last year in which several officials traded positions just ahead of the Fed's extraordinary measures to help the economy through the Covid crisis. The rules will cover FOMC members, regional bank presidents and a raft of other officials including staff officers, bond desk managers and Fed employees who regularly attend board meetings. They also extend to spouses and minor children.

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