Fed asks watchdog to review controversial trading

Jerome Powell
Jerome Powell
Fed/Flickr

The Federal Reserve announced on October 4 that it had asked its inspector-general to review certain controversial equities transactions by senior Fed officials.

The statement comes a week after two regional Fed presidents stepped down following media reports revealing they had invested in and traded assets affected by Fed policy. On October 1, Bloomberg also ran a story examining trades made by Fed vice-chair Richard Clarida in late February 2020.

In a statement, the Fed said it had asked the

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