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.

Time to spend more quality time with your family.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Surging prices show the Fed must continue its tough battle against inflation | CNN BusinessA key inflation report showed consumer prices came in hotter than expected in September, punishing Americans and giving license to the Federal Reserve to maintain its pace of historic rate hikes. Thanks Joe! Biden & Dem spending caused the inflation along with Biden’s Federal Reserve’s loose money policy. Bidenflation is a heavy TAX on the lower and middle incomes. The recession is going to get worse Any references to Democratic party’s policies and demand for higher minimum wages as the culprits?
Source: cnnbrk - 🏆 393. / 55 Read more »