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Two Fed presidents with insider knowledge of US monetary policy sold millions of dollars of stock in blue-chip firms including Amazon, Apple, and Google last year, prompting ethics review
[Daily Mail, where America gets its news] - Robert Kaplan, president of the Dallas Federal Reserve Bank, traded millions of dollars of stock in companies such as Apple, Amazon, and Google in 2020
- Eric Rosengren, president of the Boston Fed, traded in stocks and real estate investment trusts including Chevron, Pfizer, and Phillips 66
- The trades were made last year during a time when the Fed took extraordinary steps to buoy US economy and stabilize financial markets during the pandemic
- Comments made by Fed regional presidents can move markets and they have a hand in the Fed's interest rate policies
- Senior US lawmakers - including Senator Elizabeth Warren of Massachusetts - demanded more stringent restrictions after Wall Street Journal reported trades
- Federal Reserve Chair Jerome Powell ordered sweeping review of the ethics rules governing financial holdings and dealings by senior central bank officials
Posted by: Skidmark 2021-09-17 |
