Having a spouse at the Federal Reserve doesn't necessarily make you a better trader.
The WSJ today reports on two Fed senior economists who were trading in 2020 after reviewing the records of more than 88 staffers. The most active was John Stevens, who reported 566 trades in 2020. He said the transactions were "almost entirely tied to a spouse’s inheritance, and he didn’t direct that trading" which was done by his spouse's financial advisor.
The second was Diana Hancock, who blamed her spouse for some active trading. The disclosure notes a purchase of $250-$500K of AMD shares on Feb 12 and a sale of $100K-$250K on Feb 28.
It looks like a classic panic sale.
Shares of AMD had nearly quadrupled from the selling level by late last year.
The world continues to await full disclosures on the highly active leveraged trading from the Fed's Kaplan, who didn't provide the required dates on disclosures and wrote only 'multiple'.
