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

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