The Fed will impose rules restricting stock and bond trading by top officials
The Federal Reserve on Thursday announced what it said was a “broad set” of new rules that will restrict the trading and investment activity of top officials and senior staff.
There will be a one-year holding requirements. Trading will also be prohibited during times of heightened market stress. “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.
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.
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