The Fed will impose rules restricting stock and bond trading by top officials
The Fed eral Reserve on Thursday announced new rules to restrict the trading and investment activity of top officials and senior staff.
As a result of the new rules, top Fed officials will not be allowed to buy and sell securities of individual companies. Instead, they will be limited to purchasing diversified investment vehicles like mutual funds.Also prohibited are investments in individual bonds and agency mortgage securities.
Officials will have to give 45-day advance notice of purchases and sales and they will have to obtain pre-approval before executing the trades.There will be a one-year holding requirements. Trading will also be prohibited during times of heightened market stress.
Federal Reserve official said there was strong support among Fed governors and the regional bank presidents for the rules. Officials said a rule that would have mandated top Fed policymakers put their investments in blind trusts was considered but rejected. headtopics.com
Some divestment will be required as a result of the new rules.The reserve bank presidents will have to publicly disclose transactions in 30 days, which was previously only required for the board of governors.“These tough new rules raise the bar high in order to assure the public we serve that all of our senior officials maintain a single-minded focus on the public mission of the Federal Reserve,” said Fed Chairman Jerome Powell in a statement.
The Fed has been on the defensive since the Wall Street Journal and Bloomberg uncovered that two Fed officials, Dallas Fed President Rob Kaplan and Boston Fed President Eric Rosengren, were active traders in 2020 at the same time the central bank was providing massive support to the economy in the wake of the coronavirus pandemic. Kaplan resigned in the wake of the disclosure while Rosengren left office for health reasons.
Sen. Elizabeth Warren, Democrat of Massachusetts, has called for the Securities and Exchange Commission to review the trading activity. Fed officials receive daily private reports about the health of the U.S. economy.Advocates of reform of the Fed have also pointed to investment decisions by Fed Vice Chair Richard Clarida and Powell during 2020 as examples of trading that should be curtailed.
Some experts have defended Powell’s trading activity – which was to sell holdings of a stock index in October 2020. Read more: MarketWatch »
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Ok so the ones that have already been caught up trading, what's going on with that? It's ridiculous how bold the government is to slap them on the wrist for their actions and at the same time slap reta in the fucking face. What about profits already made from trading? Any fines yet? Outstanding Does 'top officials' include Senators and Congressmen?
Are you looking for access to information? Nice Profits have been made and now they make the rules. 😂 Just in time! The public dislikes insider profiteering.
Fed Beige Book finds labor and supply shortages are cramping the U.S. economyThe U.S. economy is still growing at a solid pace, a Fed eral Reserve report said Wednesday, but labor shortages and supply-chain bottlenecks are restraining... _hamster_coin is coming 🔥 Hold & Earn Bitcoin 10x 100x 1000x 🚀 Hamster Mad Skillz 🐹 elonmusk and jack support HamstercoinTeam Contract: 0x679d5b2d94f454c950d683d159b87aa8eae37c9e Hamstercoin PancakeSwap BinanceSmartChain Crypto BSCGem airdrop giveaway usdt Try paying people a living wage and not stealing from them.
The fact that this wasn't setup this way from the beginning is telling Money printer is slowing down for sure Meanwhile, Nancy Pelosi's cat just opened a trading account. Maybe we will see a 'great resignation' by top officials now? QE must be coming to an end Assets need to be seized. Too late. It's about time!
Good. Now do congress.
Biden's stimulus plan is fueling short-term inflation, SF Fed paper findsPresident Joe Biden's $1.9 trillion American Rescue Plan is contributing to elevated inflation but it isn't expected to overheat the economy, a new research paper from the San Francisco Fed eral Reserve concludes. I’m sure opinions vary greatly…hope they are right, though. And if Trump was there? Perhaps let’s do something with the gas prices.
Fed imposes sweeping new limits on policymakers' investmentsWASHINGTON (AP) — The Fed eral Reserve is imposing a sweeping new set of restrictions on the investments its officials can own, a response to questionable recent trades that forced two top Fed officials to resign. Good. Now do congress and the president. congress next dont be shy its too late. these thieves already took millions of dollars out from insider trading. punish them not restrict them
Fed Imposes New Restrictions on Officials’ Investment ActivitiesRules prohibiting trading of individual stocks and bonds, when officials can buy diversified securities, follow revelations of active trading last year as the Fed responded to Covid-19. The JonathanTurley on AmericaRpts w/ SandraSmithFox johnrobertsFox talking DOJPH on FoxNews - POTUS u messed up & are underwater ON IN ALL POLLS PressSec DNC WhiteHouse GOP Jim_Jordan MSNBC IngrahamAngle KellyO Four hours at the Capital! Best movie exposing the rats! fourhoursatthecapitol In the meantime the SEC should determine if they traded with inside information …. as the Fed is the primary engine of animal spirits ….
Workers fed up with nights, weekends seek flexible schedulesNEW YORK (AP) — After struggling to hire workers for its outlet store in Dallas, Balsam Hill finally opened on Sept. 1. But the very next day, the online purveyor of high-end artificial holiday trees was forced to close after four of its five workers quit. This is Propaganda, Their is No Labor Shortage, However their is a Shortage of 'Paying a Living Wage! FactsMatter I believe it would help, not hurt, our economy and the planet’s survival for us all to go back to most all businesses closing at 9 pm. Families could thrive, nature could rebound in the quiet and dark that it requires. Things were just better back then. It's about time.
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