Atlanta Fed chief admits to trading rules violations
Bostic claims he misinterpreted rules on funds managed by third parties
The president of the Federal Reserve Bank of Atlanta, Raphael Bostic, admitted on October 14 that he had violated trading and disclosure rules governing equities holdings.
Bostic’s statement is the latest in a series of controversies about the ethics and legality of equities trading by senior Fed officials. The scandals impelled the resignations of two regional Fed presidents and, in January, Federal Reserve Board vice-chair Richard Clarida.
A Fed spokesperson says chairman Jerome Powell “has
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