Powell on ethics of trading within the Fed: Fed will address the ethics issues

Author: Greg Michalowski | Category: Central Banks

Powell addresses ethics issues

  • As soon as learned of regional Fed bank presidents trading, directed staff to undertake a full review
  • Need to modify our practices and in process of creating recommendations for that
  • Looking carefully at regional Fed bank president trading to make sure it was in compliance with rules and law
  • Appearance is unacceptable even if, as appears to be the case, trading was in compliance with rules
  • Rules, practices and disclosure needs to be improved
  • The Fed will rise to the moment and address ethics issues
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