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
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